Log In

Reset Password
BERMUDA | RSS PODCAST

Arch Capital returns $1.9bn to shareholders

First Prev 1 2 3 Next Last
Arch Capital Group chief executive Nicolas Papadopoulo (File photograph)

Bermudian-based Arch Capital Group Ltd is to return $1.9 billion to its common shareholders in the form of a special cash dividend of $5 per outstanding common share.

The dividend is payable on December 4 to common shareholders of record on November 18.

“Arch is operating from a position of strength with a long track record of superior performance that is among the best in the insurance industry,” Arch chief executive Nicolas Papadopoulo said.

“As part of our ongoing capital management responsibilities, the board and management have determined that a special dividend is the most effective way to return capital to shareholders at this time.

“This dividend underscores Arch’s robust capital position and our commitment to delivering value to our shareholders.”

The company also announced two executive promotions.

David Gansberg has been promoted to president, Arch Capital Group Ltd, with primary accountability for Arch’s Insurance Group.

Mr Gansberg, who has been chief executive of Arch’s Mortgage Group since 2019, now oversees Arch’s North American and International Insurance Operations.

Maamoun Rajeh has been promoted to president, Arch Capital Group Ltd, with primary responsibility for Arch’s Mortgage and Reinsurance groups.

In this expanded role, the company said, Mr Rajeh added responsibility for Arch’s market-leading Mortgage Group while maintaining oversight of the Reinsurance Group he has led since 2017.

David Gansberg, president, Arch Capital Group Ltd (File photograph)
Maamoun Rajeh, president, Arch Capital Group Ltd (File photograph)

You must be Registered or to post comment or to vote.

Published November 12, 2024 at 2:32 pm (Updated November 12, 2024 at 8:40 pm)

Arch Capital returns $1.9bn to shareholders

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon