Arch Capital Group Ltd. announced the promotions of Jerome Halgan to CEO of Arch Global Reinsurance Group and Michael Schmeiser to CEO of Arch Global Mortgage Group. Both executives will continue to report to Arch President Maamoun Rajeh. The leadership changes aim to strengthen the company's global platform and deliver long-term value for clients and shareholders.

Leadership Backgrounds

Halgan joined Arch in 2009 and has served as President and Chief Underwriting Officer of Arch Reinsurance Group since 2024. He previously served as CEO of Arch Re Bermuda since 2018. Schmeiser joined Arch in 2017 and has served as President and CEO of Arch U.S. Mortgage since 2019.

Strategic Focus

Rajeh highlighted the experience of both leaders, noting their consistent performance through market cycles. He emphasized their contributions to disciplined capital deployment and strong relationships. The appointments follow the recent expansion of Rajeh's role as President of Arch.

Reporting Structure

Arch Insurance North America CEO Matt Shulman and Arch Insurance International CEO Hugh Sturgess will continue to report to Rajeh. Arch Capital Group Ltd. is a publicly listed Bermuda exempted company with approximately $26.9 billion in capital at March 31, 2026. It provides insurance, reinsurance and mortgage insurance worldwide through its wholly owned subsidiaries.

Arch Capital Group Ltd. announced the total consideration payable for cash tender offers to purchase up to $417,851,000 aggregate principal amount of its subsidiaries' debt securities. The offers cover the 5.144% Senior Notes due 2043 issued by Arch Capital Group (U.S.) Inc. and the 5.031% Senior Notes due 2046 issued by Arch Capital Finance LLC. The pricing was determined at 10:00 a.m. New York City time on June 16, 2026, based on a fixed spread over the reference U.S. Treasury yield.

Tender Offer Details

The company amended the maximum acceptance amount to $417,851,000. The total consideration for each $1,000 principal amount of notes includes an early tender premium of $50. The reference U.S. Treasury security is the 5.00% U.S. Treasury due May 15, 2046, with a fixed spread of +55 basis points and a reference yield of 4.954%.

Accepted Tender Amounts

The following table details the principal amounts tendered and expected to be accepted for each series of notes:

Settlement and Conditions

Withdrawal rights for the notes expired on the early tender deadline of 5:00 p.m. New York City time on June 15, 2026. The company expects to make payment on June 18, 2026, for notes that were validly tendered and accepted for purchase. Holders will receive accrued and unpaid interest from the last interest payment date up to, but not including, the early settlement date. The financing condition has been satisfied, and the offers are not conditioned upon any minimum amount of notes being tendered. Because the aggregate principal amount of notes tendered at the early deadline equals the maximum amount, the company does not expect to accept any notes tendered after the early deadline.

Wells Fargo Securities, LLC and BofA Securities, Inc. are serving as Dealer Managers for the tender offers. Global Bondholder Services Corporation is the Tender and Information Agent.