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    Arch Capital (ACGL)

    Market Price (7/26/2026): $103.89 | Market Cap: $36.7 BilSector: Financials | Industry: Property & Casualty Insurance

    Arch Capital (ACGL)

    Market Price (7/26/2026): $103.89
    Market Cap: $36.7 Bil
    Sector: Financials
    Industry: Property & Casualty Insurance

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.1%, FCF Yield is 16%

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -26%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 5.9 Bil, FCF LTM is 5.9 Bil

    Stock buyback support
    Stock Buyback 3Y Total is 2.7 Bil

    Low stock price volatility
    Vol 12M is 21%

    Megatrend and thematic drivers
    Megatrends include AI in Financial Services, and Cybersecurity. Themes include AI for Fraud Detection, and Cloud Security.

    Trading close to highs
    Dist 52W High is 0.0%

    Weak multi-year price returns
    2Y Excs Rtn is -22%, 3Y Excs Rtn is -27%

    Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -4.7%

    Key risks
    ACGL key risks include [1] increased defaults in its mortgage insurance segment from economic stress and [2] slowing premium growth from cooling demand in its key mortgage and reinsurance markets.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.1%, FCF Yield is 16%
    1 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -26%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 5.9 Bil, FCF LTM is 5.9 Bil
    3 Stock buyback support
    Stock Buyback 3Y Total is 2.7 Bil
    4 Low stock price volatility
    Vol 12M is 21%
    5 Megatrend and thematic drivers
    Megatrends include AI in Financial Services, and Cybersecurity. Themes include AI for Fraud Detection, and Cloud Security.
    6 Trading close to highs
    Dist 52W High is 0.0%
    7 Weak multi-year price returns
    2Y Excs Rtn is -22%, 3Y Excs Rtn is -27%
    8 Weak revenue growth
    Rev Chg QQuarterly Revenue Change % is -4.7%
    9 Key risks
    ACGL key risks include [1] increased defaults in its mortgage insurance segment from economic stress and [2] slowing premium growth from cooling demand in its key mortgage and reinsurance markets.

    ACGL in ETFs

    Weight = ACGL's share of each fund

    SPY0.06%
    VOO0.05%
    IVV0.05%
    VTI0.04%
    ITOT0.05%
    IWB0.05%
    RSP0.21%
    VTV0.12%
    +27 more covered ETFs

    Valuation & Metrics

    FYE: 12/31ACGL [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$19.1 Bil—
    FY 2026 Sales$17.0 Bil—
    FY 2027 Sales$17.4 Bil—
    FY 2026 Sales Growth-10.8%—
    FY 2027 Sales Growth2.2%13.3%
    EARNINGS
    LTM Net Income (GAAP) [3]$4.9 Bil—
    FY 2026 Net Income (Non-GAAP)$3.4 Bil—
    FY 2027 Net Income (Non-GAAP)$3.7 Bil—
    FY 2027 Net Income Growth6.1%19.6%
    FY 2026 EPS (Non-GAAP)$9.29—
    FY 2027 EPS (Non-GAAP)$9.83—
    FY 2027 EPS Growth5.7%—
    VALUATION
    FY 2026 P/S2.21.6
    FY 2027 P/S2.1—
    FY 2026 P/E10.67.6
    FY 2027 P/E10.0—

    [1] ACGL forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 7/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
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    AI Analysis | Feedback

    MetricValueDateSource
    Gross premiums written by the insurance segment growth9.7%10272025Link
    Net premiums written by the insurance segment growth7.3%10272025Link
    Net premiums earned in the insurance segment growth11.6%10272025Link
    Loss ratio from current year catastrophic activity2.2 points10272025Link
    Favorable development in prior year loss reserves, net of related adjustments$103 million10272025Link
    Combined ratio excluding catastrophic activity and prior year development80.5%10272025Link
    Book value per common share$62.329302025Link
    Underwriting expense ratio34.4%10272025Link
    Annualized net income return on average common equity23.8%10272025Link

    Price Chart

    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 7/24/2026

    Arch Capital (ACGL) stock has gained about 10% since 3/31/2026 because of the following key factors:

    1. Arch Capital reported strong first quarter (Q1 2026) financial results, significantly exceeding analyst expectations. The company announced its Q1 2026 results on April 28, 2026, revealing after-tax operating income of $901 million, or $2.50 per share, an increase from $587 million or $1.54 per share in Q1 2025. This EPS of $2.50 surpassed analysts' consensus estimates of $2.46 to $2.49 per share. The company also achieved a strong consolidated combined ratio of 81.7%, an improvement from 90.1% in the prior year's first quarter, primarily driven by enhanced underwriting performance and a reduced loss ratio of 52.4%. Book value per common share increased by 1.7% to $66.19 at March 31, 2026, despite substantial share repurchases.

    2. The company engaged in significant capital management through an expanded share repurchase program and debt refinancing. Arch Capital repurchased $783 million of common shares during Q1 2026. Additionally, the Board of Directors approved a $3 billion increase to the share repurchase authorization. In June 2026, the company announced cash tender offers to repurchase up to $417.9 million of its 2043 and 2046 senior notes. Concurrently, Arch Capital priced an offering of $2 billion in new senior notes ($600 million due 2036 and $1.4 billion due 2056) to fund these tender offers and redeem $500 million of 4.011% Senior Notes due 2026.

    Show more
    Updated on 7/24/2026

    Arch Capital (ACGL) stock has gained about 10% since 3/31/2026 because of the following key factors:

    1. Arch Capital reported strong first quarter (Q1 2026) financial results, significantly exceeding analyst expectations. The company announced its Q1 2026 results on April 28, 2026, revealing after-tax operating income of $901 million, or $2.50 per share, an increase from $587 million or $1.54 per share in Q1 2025. This EPS of $2.50 surpassed analysts' consensus estimates of $2.46 to $2.49 per share. The company also achieved a strong consolidated combined ratio of 81.7%, an improvement from 90.1% in the prior year's first quarter, primarily driven by enhanced underwriting performance and a reduced loss ratio of 52.4%. Book value per common share increased by 1.7% to $66.19 at March 31, 2026, despite substantial share repurchases.

    2. The company engaged in significant capital management through an expanded share repurchase program and debt refinancing. Arch Capital repurchased $783 million of common shares during Q1 2026. Additionally, the Board of Directors approved a $3 billion increase to the share repurchase authorization. In June 2026, the company announced cash tender offers to repurchase up to $417.9 million of its 2043 and 2046 senior notes. Concurrently, Arch Capital priced an offering of $2 billion in new senior notes ($600 million due 2036 and $1.4 billion due 2056) to fund these tender offers and redeem $500 million of 4.011% Senior Notes due 2026.

    3. Positive analyst sentiment and multiple price target upgrades contributed to the stock's upward trend. Following the Q1 2026 earnings report, several analysts raised their price targets for ACGL. Citigroup increased its target price from $120.00 to $122.50 on April 30, 2026. Morgan Stanley raised its price target from $105.00 to $110.00 on July 6, 2026, and Wells Fargo & Company boosted its objective from $110.00 to $114.00 on July 9, 2026. JPMorgan Chase & Co. also raised its price target from $110.00 to $116.00 on July 20, 2026. The consensus average 1-year price target from brokerages ranged from approximately $109.82 to $112.65.

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    Stock Movement Drivers

    Fundamental Drivers

    The 7.7% change in ACGL stock from 3/31/2026 to 7/25/2026 was primarily driven by a 12.0% change in the company's Net Income Margin (%).
    (LTM values as of)33120267252026Change
    Stock Price ($)95.99103.367.7%
    Change Contribution By: 
    Total Revenues ($ Mil)19,29419,078-1.1%
    Net Income Margin (%)22.8%25.5%12.0%
    P/E Multiple7.87.5-4.5%
    Shares Outstanding (Mil)3593531.8%
    Cumulative Contribution7.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 7/25/2026
    ReturnCorrelation
    ACGL7.7% 
    Market (SPY)13.6%-29.2%
    Sector (XLF)14.1%37.3%

    Fundamental Drivers

    The 7.8% change in ACGL stock from 12/31/2025 to 7/25/2026 was primarily driven by a 18.7% change in the company's Net Income Margin (%).
    (LTM values as of)123120257252026Change
    Stock Price ($)95.92103.367.8%
    Change Contribution By: 
    Total Revenues ($ Mil)19,04019,0780.2%
    Net Income Margin (%)21.5%25.5%18.7%
    P/E Multiple8.67.5-13.3%
    Shares Outstanding (Mil)3693534.5%
    Cumulative Contribution7.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    12/31/2025 to 7/25/2026
    ReturnCorrelation
    ACGL7.8% 
    Market (SPY)8.7%-22.4%
    Sector (XLF)3.3%25.3%

    Fundamental Drivers

    The 13.5% change in ACGL stock from 6/30/2025 to 7/25/2026 was primarily driven by a 19.7% change in the company's Net Income Margin (%).
    (LTM values as of)63020257252026Change
    Stock Price ($)91.05103.3613.5%
    Change Contribution By: 
    Total Revenues ($ Mil)17,65019,0788.1%
    Net Income Margin (%)21.3%25.5%19.7%
    P/E Multiple9.07.5-16.9%
    Shares Outstanding (Mil)3733535.6%
    Cumulative Contribution13.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2025 to 7/25/2026
    ReturnCorrelation
    ACGL13.5% 
    Market (SPY)20.6%-17.7%
    Sector (XLF)8.8%25.7%

    Fundamental Drivers

    The 45.2% change in ACGL stock from 6/30/2023 to 7/25/2026 was primarily driven by a 76.6% change in the company's Total Revenues ($ Mil).
    (LTM values as of)63020237252026Change
    Stock Price ($)71.17103.3645.2%
    Change Contribution By: 
    Total Revenues ($ Mil)10,80119,07876.6%
    Net Income Margin (%)18.5%25.5%38.3%
    P/E Multiple13.17.5-42.8%
    Shares Outstanding (Mil)3673534.0%
    Cumulative Contribution45.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2023 to 7/25/2026
    ReturnCorrelation
    ACGL45.2% 
    Market (SPY)72.6%19.5%
    Sector (XLF)74.5%44.2%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    ACGL Return23%41%18%31%4%4%192%
    Peers Return16%15%6%29%16%6%126%
    S&P 500 Return27%-19%24%23%16%8%97%

    Monthly Win Rates [3]
    ACGL Win Rate67%67%58%58%50%57% 
    Peers Win Rate57%55%55%57%65%57% 
    S&P 500 Win Rate75%42%67%75%67%43% 

    Max Drawdowns [4]
    ACGL Max Drawdown-14%-17%-18%-19%-13%-14% 
    Peers Max Drawdown-16%-22%-19%-12%-17%-13% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: EG, RNR, AXS, MKL, WRB. See ACGL Returns vs. Peers.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 7/24/2026 (YTD)

    How Low Can It Go

    EventACGLS&P 500
    2020 COVID-19 Crash
      % Loss-51.7%-33.7%
      % Gain to Breakeven107.1%50.9%
      Time to Breakeven687 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-15.3%-19.2%
      % Gain to Breakeven18.1%23.8%
      Time to Breakeven38 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-12.1%-12.2%
      % Gain to Breakeven13.8%13.9%
      Time to Breakeven196 days62 days
    2008-2009 Global Financial Crisis
      % Loss-35.5%-53.4%
      % Gain to Breakeven55.0%114.4%
      Time to Breakeven212 days1085 days
    Summer 2007 Credit Crunch
      % Loss-13.0%-8.6%
      % Gain to Breakeven14.9%9.5%
      Time to Breakeven53 days47 days

    Compare to EG, RNR, AXS, MKL, WRB

    In The Past

    Arch Capital's stock fell -4.2% during the 2025 US Tariff Shock. Such a loss loss requires a 4.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventACGLS&P 500
    2020 COVID-19 Crash
      % Loss-51.7%-33.7%
      % Gain to Breakeven107.1%50.9%
      Time to Breakeven687 days140 days
    2008-2009 Global Financial Crisis
      % Loss-35.5%-53.4%
      % Gain to Breakeven55.0%114.4%
      Time to Breakeven212 days1085 days

    Compare to EG, RNR, AXS, MKL, WRB

    In The Past

    Arch Capital's stock fell -4.2% during the 2025 US Tariff Shock. Such a loss loss requires a 4.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Arch Capital (ACGL)

    Arch Capital Group Ltd. (ACGL) is a global financial services company specializing in risk management across three primary business segments: insurance, reinsurance, and mortgage insurance. Essentially, Arch Capital helps individuals, businesses, and other insurance companies protect themselves against financial losses arising from a wide spectrum of risks, ranging from everyday operational liabilities to catastrophic events.

    The company's Insurance segment offers a broad range of direct and excess coverage products to businesses, including casualty, professional liability (such as Directors & Officers), workers' compensation, commercial property, marine, aviation, and specialized lines like medical professional liability and surety. These products are distributed globally through independent retail and wholesale brokers. Its Reinsurance segment provides coverage to other insurance companies, helping them manage their own risk exposures from large claims or catastrophic events across areas like casualty, property catastrophe, marine, and life. Lastly, the Mortgage segment provides direct mortgage insurance and mortgage reinsurance, which protects lenders against losses from borrower defaults. Arch Capital serves a diverse global market, with its customers ranging from individual businesses to other large insurance carriers and mortgage lenders.

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Arch Capital (ACGL):

    • It's like a combination of a major diversified insurer such as Travelers or Chubb, and a specialized provider of mortgage insurance.
    • Think of it as a broad insurance and reinsurance holding company, similar in diversified scope to a smaller Berkshire Hathaway, but with a significant focus on mortgage insurance.

    AI Analysis | Feedback

    • Insurance Products: Provides a broad spectrum of primary and excess coverages including casualty, property, specialty lines like D&O and E&O, medical professional liability, workers' compensation, and accident & health.
    • Reinsurance Products: Offers casualty, property, catastrophe, marine, aviation, surety, agriculture, and life reinsurance to other insurance companies globally.
    • Mortgage Insurance Products: Supplies both direct mortgage insurance, protecting lenders from borrower defaults, and mortgage reinsurance to other mortgage insurers.

    AI Analysis | Feedback

    Arch Capital (ACGL) sells primarily to other companies, rather than individuals. However, due to the nature of its business as a diversified global insurer and reinsurer, operating through a vast network of independent brokers, it does not publicly disclose or have a limited number of identifiable "major customers" by name. Its customer base is highly fragmented and diversified across various types of corporate entities worldwide. Therefore, instead of specific named companies, Arch Capital's major customers can be described by the following categories:
    • Other Insurance and Reinsurance Companies: These companies purchase reinsurance protection from Arch Capital's Reinsurance segment and mortgage reinsurance from its Mortgage segment to manage their own risk exposures and capital requirements.
    • Financial Institutions and Mortgage Lenders: Banks, credit unions, and other mortgage originators are direct customers of Arch Capital's direct mortgage insurance products, which protect them against borrower defaults.
    • Businesses and Corporations across Diverse Industries: Arch Capital's Insurance segment provides a wide array of commercial insurance coverages (e.g., casualty, property, professional liability, workers' compensation, commercial auto, marine, aviation, surety) to a broad spectrum of businesses of various sizes and industries globally.

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    Nicolas Papadopoulo Chief Executive Officer

    Mr. Papadopoulo was appointed Chief Executive Officer of Arch Capital Group Ltd. in October 2024 and has been a member of the board since then. He joined Arch Reinsurance Ltd. in December 2001 and has held various leadership and underwriting roles within the company. His prior positions at Arch include President and Chief Underwriting Officer of Arch Capital Group and CEO of Arch Worldwide Insurance Group from January 2021 to October 2024, Chairman and CEO of Arch Worldwide Insurance Group and CUO for Property and Casualty Operations from September 2017 to December 2020, and Chairman and CEO of Arch Reinsurance Group from July 2014 to September 2017. Before joining Arch, he held various positions at Sorema N.A. Reinsurance Group and served as an insurance examiner with the Ministry of Finance, Insurance Department, in France. Mr. Papadopoulo previously served on the board of directors of Coface SA and Premia Holdings Ltd. In 2017, Arch sponsored Premia with Kelso & Company, a private equity firm, and Mr. Papadopoulo invested in Premia.

    François Morin Executive Vice President and Chief Financial Officer

    Mr. Morin assumed the role of Executive Vice President and Chief Financial Officer of Arch Capital Group Ltd. effective May 25, 2018. He joined Arch in 2011, having previously served as Senior Vice President, Chief Risk Officer, and Chief Actuary of ACGL. Prior to his tenure at Arch, Mr. Morin held various roles for Towers Watson & Co. and its predecessor firm Towers, Perrin, Forster & Crosby, including its actuarial division, Tillinghast, where he led the firm's engagement with ACGL. He has nearly 30 years of experience in the insurance industry. Mr. Morin holds a bachelor's degree in Actuarial Science from Université Laval in Canada and is a Fellow of the Casualty Actuarial Society, a Chartered Financial Analyst, and a member of the American Academy of Actuaries.

    Maamoun Rajeh President

    Mr. Rajeh was named President of Arch Capital Group Ltd. in November 2024, with primary responsibility for Arch's Global Reinsurance Group and Global Mortgage Group. He joined Arch Re Bermuda in 2001 as an underwriter. His previous roles at Arch include Chairman and Chief Executive Officer of Arch Worldwide Reinsurance from October 2017 to November 2024, Chairman and CEO of Arch Reinsurance Ltd. from July 2014 to September 2017, and CEO and President at Arch Reinsurance Europe Underwriting Ltd from July 2012 to July 2014. Before joining Arch, Mr. Rajeh served in various business analysis positions at the United States Fidelity and Guarantee Company and as an underwriter at F&G Re, and later as Assistant Vice President at HartRe, a subsidiary of The Hartford Financial Services Group, Inc. He serves on the Board of Directors at Premia Holdings Ltd., which was sponsored by Arch and private equity firm Kelso & Company.

    David Gansberg President

    Mr. Gansberg was promoted to President of Arch Capital Group Ltd. in November 2024, with primary accountability for Arch's Insurance Group. He joined Arch in 2001. Prior to his current role, he served as CEO of Arch's Mortgage Group since 2019 and as President and CEO of Arch Mortgage Insurance Company (Arch MI). Before his work with the Mortgage Group, Mr. Gansberg was Executive Vice President and a director at Arch Re (U.S.). He holds a bachelor's degree in actuarial mathematics from the University of Michigan and an MBA from the Duke University Fuqua School of Business.

    W. Preston Hutchings Senior Adviser

    Mr. Hutchings currently serves as a Senior Adviser to Arch Capital Group, having previously held the positions of Senior Vice President and Chief Investment Officer at Arch Capital Group Ltd. from June 2005 to June 2021, and President of its investment management subsidiary. Before joining Arch, he served as Senior Vice President and Chief Investment Officer at Mid Ocean Reinsurance Ltd. from January 1995 until its acquisition by XL Capital in August 1998, and then as Senior Vice President and Chief Investment Officer of Renaissance Reinsurance Ltd. from August 1998 to June 2005. He began his career in 1981 as a municipal bond trader at J.P. Morgan & Company. Mr. Hutchings is also an adviser to a Hong Kong-based private equity firm (LimeTree Capital) and to a Mumbai-based equity manager. He also serves as chairman of China Car Park Ltd., which is managed by LimeTree Capital, and is a Senior Advisor to VSS Capital Partners, a private investment firm.

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    Key Risks for Arch Capital (ACGL)

    1. Catastrophic Events and Underwriting Risk: Arch Capital, through its insurance and reinsurance segments, is significantly exposed to the financial impact of catastrophic events, including natural disasters (such as hurricanes, earthquakes, and wildfires), man-made catastrophes, and other large-scale loss events. Inaccurate pricing of these risks or the occurrence of events exceeding modeled expectations can lead to substantial claims and significant underwriting losses.
    2. Adverse Developments in the Housing Market and Economic Downturns: The company's mortgage segment, which provides direct mortgage insurance and mortgage reinsurance, is highly sensitive to conditions in the housing market and the broader economy. A significant downturn in housing prices, an increase in mortgage defaults, or a severe economic recession could lead to a substantial increase in claims for its mortgage insurance products.
    3. Investment Market Volatility and Interest Rate Risk: Like other insurance and reinsurance companies, Arch Capital maintains substantial investment portfolios to support its liabilities. Fluctuations in interest rates, credit markets, or general investment market conditions can adversely affect the value of these investments and reduce investment income, thereby impacting the company's overall profitability and financial strength.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Arch Capital Group Ltd. (ACGL) operates in the insurance, reinsurance, and mortgage insurance markets. The addressable market sizes for these main products and services vary by region and reporting. The global commercial insurance market, which encompasses many of Arch Capital's insurance offerings, was valued at approximately USD 933.91 billion in 2024 and is projected to reach USD 2366.53 billion by 2035. Other estimates place the global commercial insurance market size at USD 1030.91 billion in 2025, with a projection to reach USD 2166.15 billion by 2034. The U.S. commercial insurance market alone was estimated at USD 294.6 billion in 2024 and is expected to grow to USD 489.1 billion by 2033. For reinsurance, Arch Capital's reinsurance segment addresses a substantial global market. The global reinsurance market was valued at USD 711.75 billion in 2024 and is projected to reach USD 2000.08 billion by 2034. Another report estimated the global reinsurance market size at USD 621.39 billion in 2025, expected to grow to USD 1403.7 billion by 2034. In the United States, the reinsurance market was valued at USD 220.05 billion in 2024 and is expected to reach USD 630.10 billion by 2034. Arch Capital also operates in the specialty insurance market. The global specialty insurance market was valued at USD 118.35 billion in 2024 and is projected to grow to USD 285.99 billion by 2033. Other analyses suggest the global specialty insurance market was valued at USD 112.77 billion in 2025 and is projected to reach USD 337.89 billion by 2034. North America held a significant share of the specialty insurance market, valued at USD 43.99 billion in 2025. In the mortgage segment, Arch Capital provides mortgage insurance. The global mortgage insurance market was valued at approximately USD 20.8 billion in 2023 and is projected to reach USD 38.5 billion by 2033. However, another report indicates a significantly larger global mortgage insurance market size, recorded at USD 895.81 billion in 2021 and projected to reach USD 1284.3 billion by the end of 2025, further growing to USD 2639.78 billion by 2033. North America is identified as the largest regional market for mortgage insurance.

    AI Analysis | Feedback

    For Arch Capital (ACGL), several key drivers are expected to contribute to future revenue growth over the next two to three years:

    1. Growth in the Insurance Segment fueled by Favorable Market Conditions: Arch Capital's Insurance segment has demonstrated robust growth, with increased gross and net premiums written. This expansion is supported by strategic initiatives, including past acquisitions like Allianz's US MidCorp and Entertainment businesses, and is further bolstered by favorable dynamics in the property and casualty (P&C) market. A hardening P&C environment, characterized by firm market rates and inflation-led demand, is expected to continue supporting higher premiums and stronger demand for coverage across its insurance lines.
    2. Strategic Focus and Expansion within Reinsurance Specialty Lines and Geographies: While some areas of the reinsurance market face competitive pressures, Arch Capital is strategically focusing on growth opportunities in specialty lines and specific geographies within its Reinsurance segment. The Reinsurance unit has significantly grown its net written premiums, and this targeted approach is anticipated to drive continued revenue despite broader market challenges in areas like property catastrophe reinsurance.
    3. Increased Net Investment Income: A significant contributor to Arch Capital's overall financial performance is its net investment income. The company has consistently generated strong operating cash flows, which in turn leads to an increase in its investable asset base. This growth in invested assets is expected to continue fueling higher net investment income, providing a stable and growing source of revenue.
    4. Sustained Performance and New Business Generation in the Mortgage Segment: Arch Capital's Mortgage segment is expected to contribute to future revenue growth through its continued strong underwriting performance and the generation of new business. Recent periods have shown new insurance written in the US mortgage insurance (USMI) business at high levels, coupled with high persistency rates, which helps maintain a stable to growing insurance in force.

    AI Analysis | Feedback

    Share Repurchases

    • Arch Capital's board approved a $2.0 billion increase to its share repurchase program in September 2025, bringing the total authorization to approximately $2.3 billion as of September 4, 2025.
    • The company repurchased $1.9 billion of common stock during 2025, which accounted for 5.6% of its outstanding shares.
    • In December 2024, a $1 billion share repurchase authorization was renewed, replacing the prior program, with approximately $1 billion available as of September 30, 2024.

    Outbound Investments

    • In August 2024, Arch Insurance North America completed the acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses for $450 million in cash, an acquisition estimated to require approximately $1.4 billion in capital support.
    • Arch Capital acquired Fireman's Fund Insurance Company in April 2024.
    • In 2021, Arch Capital completed several acquisitions, including Westpac, Somerset Bridge Insurance Services, Somerset Bridge Group, and Coface.

    Latest Trefis Analyses

    TitleDate
    0DASHBOARDS 
    1Day 8 of Gains Streak for Arch Capital Stock with 7.9% Return (vs. 0.4% YTD) [11/13/2025]TREFISDASH11/14/2025
    2Day 7 of Gains Streak for Arch Capital Stock with 6.7% Return (vs. -0.6% YTD) [11/12/2025]TREFISDASH11/13/2025
    3Is Arch Capital Stock Built to Withstand a Pullback?10/17/2025
    4ACGL Dip Buy Analysis07/10/2025
    5Arch Capital Total Shareholder Return (TSR): 36.1% in 2024 and 31.5% 3-yr compounded annual returns (above peer average)03/07/2025
    6Arch Capital (ACGL) Operating Cash Flow Comparison02/17/2025
    7Arch Capital (ACGL) Net Income Comparison02/15/2025
    8Arch Capital Market Price02/01/2025
    9Arch Capital vs. S&P500 Correlation10/03/2024
    10ACGL YTD Stock Return Of 53% Outperforms AIG by 43% and Outperforms HIG by 5.4%09/28/2024
    11ARTICLES 
    12Where The Buying Ran Strongest: 33 Mid Cap Stocks At 52-Week Highs07/08/2026
    13S&P 500 Stocks Trading At 52-Week High07/03/2026
    148-Day Rally Sends Arch Capital Stock Up 7.9%11/14/2025
    15Arch Capital Stock 7-Day Winning Spree: Stock Climbs 6.7%11/13/2025
    Title
    0DASHBOARDS
    1Day 8 of Gains Streak for Arch Capital Stock with 7.9% Return (vs. 0.4% YTD) [11/13/2025]TREFISDASH
    2Day 7 of Gains Streak for Arch Capital Stock with 6.7% Return (vs. -0.6% YTD) [11/12/2025]TREFISDASH
    3Is Arch Capital Stock Built to Withstand a Pullback?
    4ACGL Dip Buy Analysis
    5Arch Capital Total Shareholder Return (TSR): 36.1% in 2024 and 31.5% 3-yr compounded annual returns (above peer average)
    6Arch Capital (ACGL) Operating Cash Flow Comparison
    7Arch Capital (ACGL) Net Income Comparison
    8Arch Capital Market Price
    9Arch Capital vs. S&P500 Correlation
    10ACGL YTD Stock Return Of 53% Outperforms AIG by 43% and Outperforms HIG by 5.4%
    11ARTICLES
    12Where The Buying Ran Strongest: 33 Mid Cap Stocks At 52-Week Highs
    13S&P 500 Stocks Trading At 52-Week High
    148-Day Rally Sends Arch Capital Stock Up 7.9%
    15Arch Capital Stock 7-Day Winning Spree: Stock Climbs 6.7%

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    Peer Comparisons

    Peers to compare with:

    Financials

    ACGLEGRNRAXSMKLWRBMedian
    NameArch Cap.Everest Renaissa.Axis Cap.Markel WR Berkl. 
    Mkt Price103.36385.12329.10116.501,994.7075.46222.80
    Mkt Cap36.515.313.68.625.229.620.3
    Rev LTM19,07816,92911,0636,63915,88414,81915,352
    Op Inc LTM-------
    FCF LTM5,8592,7893,6061692,1883,3533,071
    FCF 3Y Avg6,2254,0543,5611,1132,3813,3653,463
    CFO LTM5,9022,7893,6061692,4013,5073,148
    CFO 3Y Avg6,2734,0543,5611,1132,6253,4713,516

    Growth & Margins

    ACGLEGRNRAXSMKLWRBMedian
    NameArch Cap.Everest Renaissa.Axis Cap.Markel WR Berkl. 
    Rev Chg LTM8.1%-1.8%-14.1%9.9%2.1%6.2%4.2%
    Rev Chg 3Y Avg21.3%11.1%17.1%7.6%8.5%9.9%10.5%
    Rev Chg Q-4.7%-6.8%-13.7%14.5%-13.5%5.1%-5.7%
    QoQ Delta Rev Chg LTM-1.1%-1.7%-3.8%3.3%-2.7%1.2%-1.4%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM30.9%16.5%32.6%2.6%15.1%23.7%20.1%
    CFO/Rev 3Y Avg37.8%24.8%31.1%18.8%16.3%25.3%25.0%
    FCF/Rev LTM30.7%16.5%32.6%2.6%13.8%22.6%19.5%
    FCF/Rev 3Y Avg37.5%24.8%31.1%18.8%14.8%24.5%24.7%

    Valuation

    ACGLEGRNRAXSMKLWRBMedian
    NameArch Cap.Everest Renaissa.Axis Cap.Markel WR Berkl. 
    Mkt Cap36.515.313.68.625.229.620.3
    P/S1.90.91.21.31.62.01.4
    P/Op Inc-------
    P/EBIT6.66.13.06.410.011.96.5
    P/E7.57.55.28.114.215.87.8
    P/CFO6.25.53.851.010.58.47.3
    Total Yield13.4%15.4%19.9%14.0%7.0%8.7%13.7%
    Dividend Yield0.0%2.2%0.5%1.6%0.0%2.4%1.1%
    FCF Yield 3Y Avg17.7%27.0%29.7%15.5%10.3%13.1%16.6%
    D/E0.10.20.20.20.20.10.2
    Net D/E-0.3-1.0-0.8-0.5-0.3-0.8-0.7

    Returns

    ACGLEGRNRAXSMKLWRBMedian
    NameArch Cap.Everest Renaissa.Axis Cap.Markel WR Berkl. 
    1M Rtn9.6%12.3%7.1%11.7%5.9%8.9%9.2%
    3M Rtn7.5%12.8%6.5%17.8%4.3%14.4%10.1%
    6M Rtn11.2%20.5%20.7%15.1%-1.7%13.6%14.3%
    12M Rtn16.3%17.1%33.9%22.2%-1.6%12.4%16.7%
    3Y Rtn32.4%12.6%67.3%125.2%38.6%99.5%53.0%
    1M Excs Rtn8.2%10.7%5.4%9.6%4.2%7.0%7.6%
    3M Excs Rtn1.1%6.2%0.9%11.0%-0.9%7.0%3.6%
    6M Excs Rtn4.5%14.0%14.2%6.9%-9.8%5.7%6.3%
    12M Excs Rtn0.1%0.9%23.0%5.2%-18.0%-3.4%0.5%
    3Y Excs Rtn-26.9%-47.3%6.7%68.4%-20.1%41.0%-6.7%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
    Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
    Filing Date5/5/20262/26/202611/6/20258/5/20255/7/20252/27/202511/7/20248/6/20245/9/20242/23/202411/9/20238/2/2023
    Key Financials Quarterly            
    Total Revenue4,3764,7604,9774,9654,5924,5064,4864,0663,8723,8133,2933,089
    Net Income1,0471,2381,3501,2375749359881,2691,1202,334723671
    EPS2.943.423.633.301.512.482.623.382.996.291.931.79
    Key Financials TTM            
    Total Revenue TTM19,07819,29419,04018,54917,65016,93016,23715,04414,06713,29712,44011,647
    Net Income TTM4,8724,3994,0963,7343,7664,3125,7115,4464,8484,4432,9682,262
    Growth Rates Quarterly            
    Total Revenue Growth-4.7%5.6%10.9%22.1%18.6%18.2%36.2%31.6%24.8%29.0%31.7%37.7%
    Net Income Growth82.4%32.4%36.6%-2.5%-48.8%-59.9%36.7%89.1%56.6%171.7%4152.9%66.1%
    Margins Quarterly            
    Net Income Margin23.9%26.0%27.1%24.9%12.5%20.8%22.0%31.2%28.9%61.2%22.0%21.7%
    Cash & Debt            
    Total Cash12,17511,54311,16610,31310,0349,30810,3059,1008,8448,0477,6467,535
    Total Debt2,7292,7292,7282,7282,7282,7282,7272,7272,7272,7262,7262,726
    Net Debt / (Cash)-9,446-8,814-8,438-7,585-7,306-6,580-7,578-6,373-6,117-5,321-4,920-4,809
    Cash Flows Quarterly            
    FCF from Operations1,1881,4042,1861,1241,4581,5732,0181,5181,5641,6651,9701,151
    Cash Flows TTM            
    FCF from Operations TTM5,9026,1726,3416,1736,5676,6736,7656,7176,3505,7495,0664,476
    Returns to Shareholders Quarterly            
    Dividends500251,866000000
    Share Repurchases80079873213522422-6-24322-0-18
    Return on Invested Capital (ROIC) Quarterly            
    ROIC------------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM------------

    Segment Financials

    Revenue by Segment
    $ Mil200720062005
    Insurance1,7021,6521,481
    Reinsurance1,2421,3651,657
    Total2,9453,0173,139


    Price Behavior

    Price Behavior
    Market Price$103.36 
    Market Cap ($ Bil)36.5 
    First Trading Date09/14/1995 
    Distance from 52W High0.0% 
       50 Days200 Days
    DMA Price$95.39$94.46
    DMA Trendupup
    Distance from DMA8.4%9.4%
     3M1YR
    Volatility25.0%21.2%
    Downside Capture-107.30-49.37
    Upside Capture-55.19-21.89
    Correlation (SPY)-39.2%-18.0%
    ACGL Betas & Captures as of 6/30/2026

     1M2M3M6M1Y3Y
    Beta-0.71-0.62-0.32-0.29-0.250.32
    Up Beta0.520.640.480.440.110.54
    Down Beta-0.58-1.05-1.53-0.60-0.570.33
    Up Capture-60%-54%-19%-28%-10%5%
    Bmk +ve Days11244067140429
    Stock +ve Days12223673135399
    Down Capture-160%-116%-67%-65%-52%26%
    Bmk -ve Days10172358112321
    Stock -ve Days9192752116350

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ACGL
    ACGL16.7%21.2%0.63-
    Sector ETF (XLF)7.3%14.6%0.2725.2%
    Equity (SPY)17.6%12.7%1.00-17.9%
    Gold (GLD)19.2%28.1%0.61-11.2%
    Commodities (DBC)34.7%19.1%1.42-14.8%
    Real Estate (VNQ)13.8%14.1%0.6927.6%
    Bitcoin (BTCUSD)-46.2%42.9%-1.32-15.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ACGL
    ACGL23.1%24.6%0.82-
    Sector ETF (XLF)11.1%18.5%0.4652.7%
    Equity (SPY)12.8%17.1%0.5833.9%
    Gold (GLD)17.0%18.4%0.75-2.4%
    Commodities (DBC)9.6%19.5%0.384.4%
    Real Estate (VNQ)3.0%18.9%0.0633.1%
    Bitcoin (BTCUSD)15.3%53.4%0.479.7%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ACGL
    ACGL16.5%27.6%0.59-
    Sector ETF (XLF)13.4%22.0%0.5666.8%
    Equity (SPY)14.9%17.9%0.7153.9%
    Gold (GLD)11.3%16.1%0.57-0.5%
    Commodities (DBC)7.2%17.9%0.3215.9%
    Real Estate (VNQ)5.2%20.7%0.2154.8%
    Bitcoin (BTCUSD)58.1%66.2%0.989.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date7152026
    Short Interest: Shares Quantity8.8 Mil
    Short Interest: % Change Since 63020266.3%
    Average Daily Volume1.6 Mil
    Days-to-Cover Short Interest5.5 days
    Basic Shares Quantity353.2 Mil
    Short % of Basic Shares2.5%

    Returns Analyses

    Earnings Returns History

    Updated 6/2/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    4/28/2026-4.5%-3.0%-6.6%
    2/9/20261.9%2.9%-1.3%
    10/27/2025-1.4%0.1%8.9%
    7/29/2025-0.6%2.9%6.5%
    4/29/2025-1.9%0.7%2.0%
    2/10/2025-2.0%-3.4%-2.5%
    10/30/2024-6.3%-3.3%0.7%
    7/30/2024-2.5%-1.6%13.0%
    ...
    SUMMARY STATS   
    # Positive91414
    # Negative151010
    Median Positive2.2%2.9%6.6%
    Median Negative-2.0%-1.7%-3.1%
    Max Positive5.9%15.2%20.4%
    Max Negative-6.3%-5.8%-8.1%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    4/28/2026-4.5%-3.0%-6.6%
    2/9/20261.9%2.9%-1.3%
    10/27/2025-1.4%0.1%8.9%
    7/29/2025-0.6%2.9%6.5%
    4/29/2025-1.9%0.7%2.0%
    2/10/2025-2.0%-3.4%-2.5%
    10/30/2024-6.3%-3.3%0.7%
    7/30/2024-2.5%-1.6%13.0%
    4/29/20242.5%6.5%11.3%
    2/14/20243.0%1.1%8.3%
    10/30/20234.6%2.8%-0.6%
    7/26/2023-2.9%-5.8%-8.1%
    4/26/20232.2%4.6%0.1%
    2/13/20231.6%3.5%-3.8%
    10/26/20225.9%15.2%20.4%
    7/27/2022-2.2%-1.8%6.8%
    4/27/2022-2.4%-1.3%-1.8%
    2/9/2022-1.8%-1.3%-5.2%
    10/27/2021-0.7%2.2%-1.0%
    7/28/20211.2%3.6%8.7%
    4/27/2021-2.5%-0.6%-3.7%
    2/9/2021-0.6%0.7%5.4%
    10/29/2020-0.7%4.9%5.8%
    7/29/20200.8%-0.1%4.7%
    SUMMARY STATS   
    # Positive91414
    # Negative151010
    Median Positive2.2%2.9%6.6%
    Median Negative-2.0%-1.7%-3.1%
    Max Positive5.9%15.2%20.4%
    Max Negative-6.3%-5.8%-8.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    03/31/202605/05/202610-Q
    12/31/202502/26/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/05/202510-Q
    03/31/202505/07/202510-Q
    12/31/202402/27/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/06/202410-Q
    03/31/202405/09/202410-Q
    12/31/202302/23/202410-K
    09/30/202311/09/202310-Q
    06/30/202308/02/202310-Q
    03/31/202305/04/202310-Q
    12/31/202202/24/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/03/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    03/31/202605/05/202610-Q
    12/31/202502/26/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/05/202510-Q
    03/31/202505/07/202510-Q
    12/31/202402/27/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/06/202410-Q
    03/31/202405/09/202410-Q
    12/31/202302/23/202410-K
    09/30/202311/09/202310-Q
    06/30/202308/02/202310-Q
    03/31/202305/04/202310-Q
    12/31/202202/24/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/03/202210-Q
    03/31/202205/04/202210-Q
    12/31/202102/25/202210-K
    09/30/202111/04/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/06/202110-Q
    12/31/202002/26/202110-K
    09/30/202011/05/202010-Q
    06/30/202008/06/202010-Q
    03/31/202005/08/202010-Q
    12/31/201902/28/202010-K
    09/30/201911/08/201910-Q
    06/30/201908/07/201910-Q

    Insider Activity

    Updated 6/4/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Posner, Brian S DirectSell604202619.663,000  Form
    2Posner, Brian S DirectSell512202617.142,000  Form
    3Houston, Daniel Joseph DirectBuy504202694.085,300498,650932,853Form
    4Posner, Brian S DirectSell312202617.113,00051,34534,230Form
    5Gansberg, DavidPresident, Arch Capital GroupDirectSell312202696.375,907569,26632,434,696Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Posner, Brian S DirectSell604202619.663,000  Form
    2Posner, Brian S DirectSell512202617.142,000  Form
    3Houston, Daniel Joseph DirectBuy504202694.085,300498,650932,853Form
    4Posner, Brian S DirectSell312202617.113,00051,34534,230Form
    5Gansberg, DavidPresident, Arch Capital GroupDirectSell312202696.375,907569,26632,434,696Form
    6Papadopoulo, NicolasCEODirectSell312202696.3121,9302,112,06383,942,608Form
    7Rajeh, MaamounPresident, Arch Capital GroupDirectSell213202696.1247,4304,558,85841,675,534Form
    8Pasquesi, John MTrustSell1216202594.178,800828,68427,267,083Form
    9Pasquesi, John MTrustSell1216202593.90203,86619,142,04732,990,656Form
    10Morin, FrancoisEVP AND CFODirectSell1202202594.628,000756,99625,234,556Form
    11Rajeh, MaamounPRESIDENT, ARCH CAPITAL GROUPDirectSell825202594.1510,000941,46440,820,843Form
    12Posner, Brian SDirectBuy804202517.341,00017,33886,690Form

    Investor Activity (13F)

    Updated Jul 26, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    High Ground Investment Management LLP$172.2 Mil32.0%5Hold13F
    Robertson Opportunity Capital, LLC$19.4 Mil7.5%30Hold13F
    Maren Capital LLC$113.2 Mil5.9%19Hold13F
    Marshfield Associates$292.9 Mil5.9%17ADD +5.7%13F
    Gladstone Capital Management LLP$46.3 Mil4.6%32TRIM -35.7%13F
    Kinsale Capital Group, Inc.$9.6 Mil1.5%41Hold13F
    Egerton Capital (UK) LLP$107.2 Mil1.2%24New13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Egerton Capital (UK) LLP$107.2 Mil1.2%24New13F
    Marshfield Associates$292.9 Mil5.9%17ADD +5.7%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Gladstone Capital Management LLP$46.3 Mil4.6%32TRIM -35.7%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Marshfield Associates$292.9 Mil5.9%17ADD +5.7%13F
    High Ground Investment Management LLP$172.2 Mil32.0%5Hold13F
    Maren Capital LLC$113.2 Mil5.9%19Hold13F
    Egerton Capital (UK) LLP$107.2 Mil1.2%24New13F
    Gladstone Capital Management LLP$46.3 Mil4.6%32TRIM -35.7%13F
    Robertson Opportunity Capital, LLC$19.4 Mil7.5%30Hold13F
    Kinsale Capital Group, Inc.$9.6 Mil1.5%41Hold13F

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