Arch Capital Group Ltd. (NASDAQ:ACGL) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01 Entry into a Material Definitive Agreement.
Arch Capital Group Ltd. (NASDAQ:ACGL) Files An 8-K Entry into a Material Definitive Agreement
On November 29, 2016, Arch Capital Group Ltd. (“ACGL”) and its wholly owned subsidiary Arch Capital Finance LLC (the “Issuer”), entered into a Purchase Agreement to which the Issuer agreed to sell, and the underwriters named therein agreed to purchase, subject to and upon terms and conditions set forth therein, $500,000,000 aggregate principal amount of 4.011% senior notes due 2026 (“2026 Notes”) and $450,000,000 aggregate principal amount of 5.031% senior notes due 2046 (“2046 Notes” and, together with the 2026 Notes, the “Notes”). The Notes are fully and unconditionally guaranteed by ACGL. The offering was made to an effective shelf registration statement and is expected to close on December 8, 2016. A copy of the Purchase Agreement is attached to this Current Report on Form 8-K as Exhibit 1.1 and is incorporated herein by reference.
ITEM 8.01 Other Events.
On November 29, 2016, ACGL issued a press release announcing the underwritten public offering of Notes. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 Exhibits.
See Exhibit Index.
About Arch Capital Group Ltd. (NASDAQ:ACGL)
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other, which includes alternative market risks and excess workers’ compensation. The reinsurance segment’s product lines include casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe, and other, which includes life reinsurance and casualty clash businesses. The mortgage segment includes the results of Arch Mortgage Insurance Company (Arch MI U.S.) and Arch Mortgage Insurance Designated Activity Company (Arch MI Europe). Arch Capital Group Ltd. (NASDAQ:ACGL) Recent Trading Information
Arch Capital Group Ltd. (NASDAQ:ACGL) closed its last trading session up +0.33 at 82.72 with 310,982 shares trading hands.
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other, which includes alternative market risks and excess workers’ compensation. The reinsurance segment’s product lines include casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe, and other, which includes life reinsurance and casualty clash businesses. The mortgage segment includes the results of Arch Mortgage Insurance Company (Arch MI U.S.) and Arch Mortgage Insurance Designated Activity Company (Arch MI Europe). Arch Capital Group Ltd. (NASDAQ:ACGL) Recent Trading Information
Arch Capital Group Ltd. (NASDAQ:ACGL) closed its last trading session up +0.33 at 82.72 with 310,982 shares trading hands.
