ARCH CAPITAL GROUP LTD.

Listed Company

ACGLOCIK 0000947484NasdaqLarge AcceleratedFire, Marine & Casualty InsuranceFY ends Dec 31

Period

FY 2025

Revenue

$19.93B

Net Income

$4.40B

Total Assets

$79.24B

Equity

$24.21B

Shares Out

355.80M

Op. Cash Flow

$6.17B

+ 13F Filer

Business

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance worldwide through its consolidated subsidiaries, concentrating on specialty lines. It offers property and casualty insurance, treaty and facultative reinsurance, lenders’ mortgage insurance, GSE credit risk‑sharing and related risk‑sharing products, analytics, claims management and underwriting services. The company organizes its operations into three underwriting segments—insurance, reinsurance and mortgage—and includes Lloyd’s syndicates, managing agencies and strategic investments. It distributes products across Bermuda, the U.S., the U.K., Europe, Canada, Australia and other markets via brokers, program administrators, direct sales and GSE channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net premiums earned	17,065	15,100	12,440	9,679	8,082
Net investment income	1,625	1,495	1,023	496	389
Net realized gains (losses)	464	197	−165	−663	380
Other underwriting income	217	26	31	13	21
Equity in net income of investments accounted for using the equity method	504	580	278	115	366
Other income (loss)	54	42	27	−27	10
Total revenues	19,929	17,440	13,634	9,613	9,248
Losses and loss adjustment expenses	9,370	8,342	6,246	5,028	4,585
Acquisition expenses	3,153	2,651	2,312	1,740	1,303
Other operating expenses	1,826	1,472	1,301	1,128	999
Corporate expenses	132	200	102	95	78
Amortization of intangible assets	193	235	95	106	82
Interest expense	148	141	133	131	139
Net foreign exchange losses (gains)	128	−75	60	−102	−41
Total expenses	14,950	12,966	10,249	8,126	7,145
Income before income taxes and income (loss) from operating affiliates	4,979	4,474	3,385	1,487	2,103
Current tax expense (benefit)	586	397	288	201	295
Deferred tax expense (benefit)	174	−35	−1,161	−121	−167
Income tax expense (benefit)	760	362	−873	80	128
Income (loss) from operating affiliates	180	200	184	75	264
Net income	4,399	4,312	4,442	1,482	2,239
Net (income) loss attributable to noncontrolling interests	0	0	1	−6	−82
Net income available to Arch	4,399	4,312	4,443	1,476	2,157
Preferred dividends	−40	−40	−40	−40	−48
Net income available to Arch common shareholders	4,359	4,272	4,403	1,436	2,094
Basic (per share)	11.83	11.47	11.94	3.9	5.35
Diluted (per share)	11.6	11.19	11.62	3.8	5.23
Basic (shares)	368	373	369	369	392
Diluted (shares)	376	382	379	378	400

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Debt securities available for sale, at fair value	35,051	29,819	25,616	21,015	19,733
Equity securities, at fair value	1,900	1,700	—	—	—
Other investments (portion measured at fair value: $3,136 and $3,066)	3,136	3,066	2,488	1,644	1,974
Investments accounted for using the equity method	6,453	5,980	4,566	3,774	3,078
Total investments	46,504	40,540	33,856	27,293	26,588
Cash	993	979	917	855	859
Accrued investment income	338	298	236	159	85
Investment in operating affiliates	1,313	1,240	1,119	965	1,136
Premiums receivable (net of allowance for credit losses: $43 and $45)	5,723	5,634	4,644	3,625	2,633
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses (net of allowance for credit losses: $17 and $17)	9,526	8,260	7,064	6,564	5,881
Contractholder receivables (net of allowance for credit losses: $7 and $5)	2,270	2,161	1,814	1,731	1,829
Ceded unearned premiums	2,659	2,428	2,170	1,799	1,729
Deferred acquisition costs	1,717	1,734	1,531	1,264	902
Receivable for securities sold	180	50	63	12	60
Goodwill and intangible assets	1,222	1,351	731	804	945
Other assets	6,796	6,231	4,761	2,919	2,454
Total assets	79,241	70,906	58,906	47,990	45,101
Reserve for losses and loss adjustment expenses	33,547	29,369	22,752	20,032	17,757
Unearned premiums	10,100	10,218	8,808	7,337	6,012
Reinsurance balances payable	2,320	2,137	2,000	1,530	1,583
Contractholder payables	2,277	2,165	1,817	1,734	1,832
Collateral held for insured obligations	237	249	259	249	—
Senior notes	2,729	2,728	2,726	2,725	2,724
Payable for securities purchased	308	181	247	95	65
Other liabilities	3,517	3,039	1,942	1,367	1,330
Total liabilities	55,035	50,086	40,551	35,069	31,546
Commitments and Contingencies	—	—	—	—	—
Non-cumulative preferred shares	830	830	830	830	830
Common shares ($0.0011 par, shares issued: 599.8 and 595.6)	1	1	1	1	648,000
Additional paid-in capital	2,735	2,510	2,327	2,211	2,085
Retained earnings	27,045	22,686	20,295	15,892	14,456
Accumulated other comprehensive income (loss), net of deferred income tax	5	−720	−676	−1,646	−65
Common shares held in treasury, at cost (shares: 240.8 and 219.2)	−6,400	−4,487	−4,424	−4,378	−3,761
Total shareholders' equity	24,206	20,820	18,353	12,910	13,546
Total liabilities and shareholders' equity	79,241	70,906	58,906	47,990	45,101

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net realized (gains) losses	−440	−185	182	651	−427
Equity in net (income) or loss of investments accounted for using the equity method and other income or loss	−459	−488	−215	154	—
Share-based compensation	148	133	93	88	88
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable	2,350	3,279	2,138	1,890	1,762
Unearned premiums, net of ceded unearned premiums	−589	632	1,028	1,399	935
Premiums receivable	38	−818	−981	−1,110	−685
Deferred acquisition costs	86	−212	−235	−374	−263
Reinsurance balances payable	137	179	455	−36	499
Deferred income tax assets, net	174	−35	−1,161	−121	−167
Other items, net	135	−359	−92	−313	−174
Net cash provided by operating activities	6,172	6,673	5,749	3,816	3,425
Purchases of fixed maturity investments	−36,480	−31,290	−18,062	−16,390	−35,452
Purchases of equity securities	−1,448	−1,423	−456	−797	−1,175
Purchases of other investments	−2,238	−3,485	−2,171	−1,720	−1,859
Proceeds from sales of fixed maturity investments	29,313	26,245	14,105	11,844	33,577
Proceeds from sales of equity securities	1,507	1,101	288	1,554	918
Proceeds from sales, redemptions and maturities of other investments	2,186	1,858	768	1,220	1,766
Proceeds from redemptions and maturities of fixed maturity investments	2,494	2,036	781	715	1,629
Net settlements of derivative instruments	310	−5	50	−69	−39
Net (purchases) sales of short-term investments	258	−269	−696	467	165
Acquisitions, net of cash	0	852	0	0	—
Purchases of fixed assets	−44	−51	−52	−50	−41
Other	106	−30	−23	125	−524
Net cash used for investing activities	−4,036	−4,461	−5,468	−3,101	−2,138
Purchases of common shares under share repurchase program	−1,889	−24	0	−586	−1,234
Proceeds from common shares issued, net	50	7	−2	6	—
Third party investment in redeemable noncontrolling interests	0	0	−22	0	0
Common dividends paid	−7	−1,866	0	0	—
Preferred dividends paid	−40	−40	−40	−40	−47
Other	−4	−2	−5	−86	−4
Net cash provided by (used for) financing activities	−1,890	−1,925	−69	−706	−1,229
Effects of exchange rate changes on foreign currency cash and restricted cash	61	−25	13	−50	−34
Increase (decrease) in cash and restricted cash	307	262	225	−41	24
Income taxes paid (received)	458	378	267	255	286
Interest paid	127	127	127	128	139

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 4 positions

Reported AUM

$538.41M

Holdings

Top sector

$538.41M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$538.41M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
ISHARES TR	—	5.42M	$280.42M	52.1%
INVESCO EXCH TRADED FD TR II	—	7.02M	$152.68M	28.4%
SSGA ACTIVE ETF TR	—	2.29M	$102.85M	19.1%
ISHARES TR	—	30.0K	$2.47M	0.5%