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Arch Capital Group Ltd. (ACGL) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Arch Capital Group Ltd.

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CIK: 1103021 Ticker: ACGL

EXHIBIT 99.1
archlogorgbsolida38.jpg
PRESS RELEASEArch Capital Group Ltd.
NASDAQ Symbol: ACGLWaterloo House, Ground Floor
For Immediate Release100 Pitts Bay Road
February 13, 2023
Pembroke HM 08 Bermuda


ARCH CAPITAL GROUP LTD. REPORTS 2022 FOURTH QUARTER RESULTS

PEMBROKE, BERMUDA--(BUSINESS WIRE)--Arch Capital Group Ltd. (NASDAQ: ACGL; “Arch” or “the Company”) announces its 2022 fourth quarter results. The results included:
•Net income available to Arch common shareholders of $849.5 million, or $2.26 per share, a 29.5% annualized net income return on average common equity, compared to $613.1 million, or $1.58 per share, for the 2021 fourth quarter;
•After-tax operating income available to Arch common shareholders(1) of $805.9 million, or $2.14 per share, a 28.0% annualized operating return on average common equity, compared to $493.3 million, or $1.27 per share, for the 2021 fourth quarter;
•Pre-tax current accident year catastrophic losses for the Company’s insurance and reinsurance segments, net of reinsurance and reinstatement premiums (1), of $34.6 million;
•Combined ratio excluding catastrophic activity and prior year development(1) of 82.0%, compared to 80.1% for the 2021 fourth quarter;
•Favorable development in prior year loss reserves, net of related adjustments(1) of $270.1 million;
•Book value per common share of $32.62 at December 31, 2022, a 9.9% increase from September 30, 2022.
All earnings per share amounts discussed in this release are on a diluted basis. The following table summarizes the Company’s underwriting results:
(U.S. Dollars in thousands)Three Months Ended December 31,
20222021% Change
Gross premiums written$3,795,262 $2,861,575 32.6 
Net premiums written3,034,636 2,034,427 49.2 
Net premiums earned2,760,919 2,083,630 32.5 
Underwriting income734,264 471,611 55.7 
Underwriting Ratios% Point Change
Loss ratio45.0 %47.8 %(2.8)
Underwriting expense ratio28.5 %29.8 %(1.3)
Combined ratio73.5 %77.6 %(4.1)
Combined ratio excluding catastrophic activity and prior year development (1)
82.0 %80.1 %1.9 
(1)    Presentation represents a “non-GAAP” financial measure as defined in Regulation G. See ‘Comments on Regulation G’ for further details.
1
The following information was filed by Arch Capital Group Ltd. (ACGL) on Monday, February 13, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Arch Capital Group Ltd.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Acquisitions
Acquisitions (Details)
Allowance For Expected Credit Losses
Allowance For Expected Credit Losses (Tables)
Allowance For Expected Credit Losses - Ceded Credit Risk (Details)
Allowance For Expected Credit Losses - Contractholder Receivables (Details)
Allowance For Expected Credit Losses - Premiums Receivable (Details)
Allowance For Expected Credit Losses - Reinsurance Recoverables (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Concentrations Of Credit Risk (Details)
Commitments And Contingencies - Other Commitments (Details)
Debt And Financing Arrangements
Debt And Financing Arrangements - (Tables)
Debt And Financing Arrangements - Letter Of Credit And Revolving Credit Facilities (Details)
Debt And Financing Arrangements - Schedule Of Senior Notes Outstanding (Details)
Derivative Instruments
Derivative Instruments (Details)
Derivative Instruments (Tables)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Fair Value
Fair Value (Tables)
Fair Value - Fair Value Hierarchy (Details)
Fair Value - Narrative (Details)
Fair Value - Rollforward Of Level 3 Assets And Liabilities (Details)
General
General (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Analysis Of Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets - Future Amortization Expense (Details)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Summary Of Intangible Assets By Major Class (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Components Of Income Tax (Details)
Income Taxes - Income Before Taxes By Jurisdiction (Details)
Income Taxes - Narrative (Details)
Income Taxes - Operating Loss Carryfowards And Tax Credits (Details)
Income Taxes - Reconciliation Of Effective Tax Rate (Details)
Income Taxes - Statutory Tax Rate By Jurisdiction (Details)
Income Taxes - Summary Of Open Tax Years By Major Jurisdiction (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Investment Information
Investment Information (Tables)
Investment Information - Aging Of Available For Sale Securities In An Unrealized Loss Position (Details)
Investment Information - Allowance For Expected Credit Losses (Details)
Investment Information - Cash And Restricted Cash (Details)
Investment Information - Equity Method Investments And Investments In Affiliates (Details)
Investment Information - Investments In Operating Affiliates (Details)
Investment Information - Limited Partnership Interests (Details)
Investment Information - Maturity Profile Of Available For Sale Securities (Details)
Investment Information - Narrative (Details)
Investment Information - Net Investment Income (Details)
Investment Information - Net Realized Gains And Losses (Details)
Investment Information - Other Investments (Details)
Investment Information - Other Investments By Strategy (Details)
Investment Information - Restricted Assets (Details)
Investment Information - Summary Of Available For Sale Securities (Details)
Leases
Leases (Tables)
Leases - Additional Information Regarding Leases (Details)
Leases - Contractual Maturities (Details)
Legal Proceedings
Other Comprehensive Income
Other Comprehensive Income (Tables)
Other Comprehensive Income - Amounts Reclassified From Accumulated Other Comprehensive Income (Details)
Other Comprehensive Income - Components Of Accumulated Other Comprehensive Income (Details)
Other Comprehensive Income - Tax Effects On Components Of Other Comprehensive Income (Details)
Reinsurance
Reinsurance (Tables)
Reinsurance - Coverage And Retention (Details)
Reinsurance - Effects Of Reinsurance (Details)
Reserve For Losses And Loss Adjustment Expenses
Reserve For Losses And Loss Adjustment Expenses (Tables)
Reserve For Losses And Loss Adjustment Expenses - Prior Years Reserve Development (Details)
Reserve For Losses And Loss Adjustment Expenses - Reconciliation Of Beginning And Ending Balances Of Losses And Loss Adjustment Reserves (Details)
Retirement Plans
Retirement Plans (Details)
Schedule Ii - Condensed Financial Information Of Registrant
Schedule Ii - Condensed Financial Information Of Registrant - Balance Sheet (Details)
Schedule Ii - Condensed Financial Information Of Registrant - Statement Of Cash Flows (Details)
Schedule Ii - Condensed Financial Information Of Registrant - Statement Of Income (Details)
Schedule Iii - Supplementary Insurance Information
Schedule Iii - Supplementary Insurance Information (Details)
Schedule Iv - Reinsurance
Schedule Iv - Reinsurance (Details)
Schedule Vi - Supplementary Information For Property And Casualty Insurance Underwriters
Schedule Vi - Supplementary Information For Property And Casualty Insurance Underwriters (Details)
Segment Information
Segment Information (Tables)
Segment Information - Analysis Of Underwriting Income By Segment And Reconciliation To Net Income Available To Common Shareholders (Details)
Segment Information - Summary Of Net Premiums Written And Earned By Major Line Of Business And Net Premiums Written By Location (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Long Term Incentive Plan (Details)
Share-Based Compensation - Options Additional Information (Details)
Share-Based Compensation - Performance Shares And Performance Units Activity (Details)
Share-Based Compensation - Performance Shares And Units Additional Information (Details)
Share-Based Compensation - Restricted Common Shares And Restricted Stock Units Activity (Details)
Share-Based Compensation - Restricted Stock Additional Information (Details)
Share-Based Compensation - Share-Based Compensation Expense (Details)
Share-Based Compensation - Stock Option Activity (Details)
Share-Based Compensation - Unrecognized Compensation Cost And Period For Recognition (Details)
Share-Based Compensation - Valuation Assumptions (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Preferred Shares (Details)
Shareholders' Equity - Roll-Forward Of Changes In Issued And Outstanding Common Shares (Details)
Shareholders' Equity - Share Repurchase Program (Details)
Short Duration Contracts
Short Duration Contracts (Details)
Short Duration Contracts (Tables)
Short Duration Contracts - Claims Development - Insurance (Details)
Short Duration Contracts - Claims Development - Mortgage (Details)
Short Duration Contracts - Claims Development - Reinsurance (Details)
Short Duration Contracts - Percentage Annual Payout - All Segments (Details)
Short Duration Contracts - Reconciliation Of Claims Development To Liability (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Statutory Information
Statutory Information (Tables)
Statutory Information - Narrative (Details)
Statutory Information - Summary Of Statutory Capital, Surplus And Net Income (Details)
Transactions With Related Parties
Transactions With Related Parties (Details)
Variable Interest Entity And Noncontrolling Interests
Variable Interest Entity And Noncontrolling Interests (Tables)
Variable Interest Entity And Noncontrolling Interests - Cash Flows Of Variable Interest Entity (Details)
Variable Interest Entity And Noncontrolling Interests - Income Or Loss Attributable To Third Party Investors (Details)
Variable Interest Entity And Noncontrolling Interests - Non-Redeemable Noncontrolling Interest (Details)
Variable Interest Entity And Noncontrolling Interests - Other Variable Interest Entity Disclosures (Details)
Variable Interest Entity And Noncontrolling Interests - Redeemable Noncontrolling Interest (Details)
Variable Interest Entity And Noncontrolling Interests - Variable Interest Entity (Details)
Ticker: ACGL
CIK: 947484
Form Type: 10-K Annual Report
Accession Number: 0000947484-23-000015
Submitted to the SEC: Fri Feb 24 2023 1:13:42 PM EST
Accepted by the SEC: Fri Feb 24 2023
Period: Saturday, December 31, 2022
Industry: Fire Marine And Casualty Insurance

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