Arch Capital Group

Arch Capital Group Ltd. is a Bermuda company with three businesses: specialty insurance, reinsurance and mortgage insurance. In Q3 2026, gross premiums written were $5,391 million: $2,766 million in insurance, $2,313 million in reinsurance and $316 million in mortgage. Net premiums earned were $4,014 million and the combined ratio was 82.5%. In 2024, the insurance segment bought the US MidCorp and Entertainment insurance businesses from Allianz.

Arch had investments of $48.3 billion, common shareholders' equity of $22,162 million and book value per common share of $67.90 at September 30, 2026. Nicolas Papadopoulo is Chief Executive Officer. The pick is the common share on NASDAQ (ACGL), in US dollars.

The market prices Arch close to the AI estimate, as a specialty insurer near the top of its price cycle that must keep its profit as prices soften. Arch says that conditions are becoming uneven. Net premiums earned fell 6.3% to $4,014 million in Q3 2026 and operating income per diluted share fell to $2.67 from $2.77, while the combined ratio excluding catastrophes and prior-year changes was 81.2%.

The reinsurance segment shrank: its net premiums written were 9.3% lower. Arch keeps cutting its share count. It bought $1.4 billion of shares in Q3 2026 and $3.4 billion in nine months, and its diluted share count fell to 341.4 million from 376.1 million.

For the price to stay close to the AI estimate, Arch must keep an operating return on equity near 15% as prices fall, keep catastrophe and reserve results steady and keep buying back shares. The January 2027 renewals and the Q4 2026 report in February 2027 are the next tests. If returns hold, the price can stay close to the AI estimate.

AI estimate, checked by Kevin. How it is made

1. Feb 8, 2027 · est.Pending

   Q4 2026 results: return on equityAn annualized operating return on average common equity of 15% or more for Q4 2026 passes; a lower return fails.
2. Apr 2027 · est.Pending

   Q1 2027 results: reinsurance premiums after the January renewalsA fall in reinsurance net premiums written of less than 10% in Q1 2027 passes; a larger fall fails.

Every passed and failed checkpoint across all picks

• October 27, 2026Arch reported Q3 2026 results. Net income to common shareholders was $1.0 billion ($3.00 per diluted share) and after-tax operating income was $910 million ($2.67), an annualized return of 16.0% on average common equity. The combined ratio was 82.5%, catastrophe losses were $234 million, favorable development of prior-year reserves was $179 million and share repurchases were $1.4 billion. Book value per common share was $67.90.
• June 9, 2026Arch sold $2.0 billion of senior notes: $600 million of 5.250% notes due 2036 and $1.4 billion of 5.950% notes due 2056. It used part of the money for cash tender offers, completed on June 16, 2026, and to retire its 4.011% notes due 2026.
• April 19, 2026Arch's board raised its share repurchase authorization by $3.0 billion. Arch bought 35.5 million shares for about $3.4 billion in the first nine months of 2026.

Last earnings

October 27, 2026 (8-K on sec.gov)

Next earnings

Expected about February 8, 2027. The company has not confirmed the date.

• 8-KOther company newsFiled November 5, 2026 · acgl-20261105
• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 4, 2026 · acgl-20260930
• 8-KInvestor disclosureFiled October 30, 2026 · acgl-20261030
• 8-KNew material agreement and New debt or financial obligationFiled October 30, 2026 · acgl-20261028
• 8-KChange of directors or officersFiled October 29, 2026 · acgl-20261026
• 8-KEarnings releaseFiled October 27, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 4, 2026 · acgl-20260630
• 8-KEarnings releaseFiled July 28, 2026 · Press release and exhibits
• 8-KOther company newsFiled June 16, 2026 · acgl-20260615
• 8-KNew material agreement and New debt or financial obligationFiled June 9, 2026 · acgl-20260609

Every filing on SEC EDGAR (CIK 947484)

• Catastrophe losses can be large. Current-year catastrophe losses in the insurance and reinsurance segments were $234 million in Q3 2026, including losses from the Iran conflict. A year with major storms or earthquakes would cut profit and book value.
• Prices are softening. Arch says the market is in transition. Net premiums written in reinsurance fell 9.3% in Q3 2026, and lower prices with the same costs would cut margins.
• Reserves may prove too low. Favorable development of prior-year reserves was $179 million in Q3 2026. If past claims cost more than reserved, Arch would add reserves and book charges.
• Mortgage insurance depends on the US housing market. Underwriting income in the mortgage segment fell to $201 million in Q3 2026 from $260 million, and falling house prices or rising unemployment would raise claims.
• Investment results can swing. Net investment income was $451 million in Q3 2026, and net realized losses were $99 million, so interest rates and markets move book value.

At September 30, 2026, Arch had total investments of $48,258 million and senior notes of $4,286 million, against $2,729 million at December 31, 2025. Total liabilities were $61,084 million. Read more

Paid per share

$0.00 in the last 12 months (0 payments)

Latest ex-dividend date

November 18, 2024, $5.00 per share

Dividends per share by year

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.