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Arch Capital Group Business Segments

Business, geographic, and product segment breakdowns

Arch Capital Group generates $19.8B in annual revenue across 4 key segments: Casualty (1.8B), Marine and aviation (447M), Property catastrophe (1.1B), and Property excluding property catastrophe (3.1B). Based on the Q1 2026 filing.

Casualty183,100,000,000.0%Marine and aviation44,700,000,000.0%Property catastrophe106,200,000,000.0%Property excluding property catastrophe305,500,000,000.0%Specialty493,000,000,000.0%
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$31.8B
P/E Ratio6.54
ROE21.31%

Products & Services

All outstanding liabilities before 2016, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty35400000000.0%———40600000000.0%—
Marine and aviation1800000000.0%———1800000000.0%—
Property catastrophe200000000.0%———200000000.0%—
Property excluding property catastrophe600000000.0%———800000000.0%—
Specialty3000000000.0%———3500000000.0%—

Net premiums earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty and other$216M$234.3M$234.3M$234.3M$234.3M—
Casualty$272M$358M$358M$358M$358M—
Commercial automobile$114.8M$145.3M$145.3M$145.3M$145.3M—
Commercial multi-peril$108.8M$198M$198M$198M$198M—
International mortgage insurance/reinsurance$43.3M$40.8M$40.8M$40.8M$40.8M—
Marine and aviation$69M$79.3M$79.3M$79.3M$79.3M—
Other liability - claims made$210.8M$196.5M$196.5M$196.5M$196.5M—
Other liability - occurrence$235.5M$330.3M$330.3M$330.3M$330.3M—
Property and short-tail specialty$556.5M$618M$618M$618M$618M—
Property catastrophe$239.8M$266.3M$266.3M$266.3M$266.3M—
Property excluding property catastrophe$537M$563M$563M$563M$563M—
Specialty$654.8M$726.5M$726.5M$726.5M$726.5M—
U.S. credit risk transfer (CRT) and other$53.3M$51.8M$51.8M$51.8M$51.8M—
U.S. primary mortgage insurance$211.3M$200.5M$200.5M$200.5M$200.5M—
Workers compensation$137.3M$147.8M$147.8M$147.8M$147.8M—

Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty25800000000.0%———183100000000.0%—
Marine and aviation6600000000.0%———44700000000.0%—
Property catastrophe26200000000.0%———106200000000.0%—
Property excluding property catastrophe46800000000.0%———305500000000.0%—
Specialty62700000000.0%———493000000000.0%—

Incurred losses and allocated loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty73400000000.0%———521000000000.0%—
Marine and aviation23300000000.0%———104100000000.0%—
Property catastrophe51200000000.0%———198000000000.0%—
Property excluding property catastrophe121200000000.0%———515000000000.0%—
Specialty169600000000.0%———856400000000.0%—

Liabilities for losses and loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty302600000000.0%———378500000000.0%—
Marine and aviation49500000000.0%———61200000000.0%—
Property catastrophe81200000000.0%———92000000000.0%—
Property excluding property catastrophe177700000000.0%———210300000000.0%—
Specialty274900000000.0%———366900000000.0%—

Prior years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property other than property catastrophe——-$60M-$28M—-$72M
Specialty lines—-$35M———-$63M
Casualty$1M$8M$0$22M$40M$20M
Travel and accident-$3M-$8M-$7M-$8M-$3M-$10M

Total of IBNR liabilities plus expected development on reported claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty68000000000.0%———92800000000.0%—
Marine and aviation15700000000.0%———17200000000.0%—
Property catastrophe10000000000.0%———8400000000.0%—
Property excluding property catastrophe68700000000.0%———64800000000.0%—
Specialty107000000000.0%———127500000000.0%—

Unpaid losses and loss adjustment expenses recoverable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty$715M———$861M—
Marine and aviation$462M———$549M—
Property catastrophe$783M———$911M—
Property excluding property catastrophe$278M———$362M—
Specialty$998M———$1.4B—

Year Eight

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty7.2%———6.8%—
Marine and aviation1.4%———1.1%—
Property catastrophe1.5%———1.0%—
Property excluding property catastrophe0.2%———0.7%—
Specialty0.7%———0.5%—

Year Five

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty11.5%———11.5%—
Marine and aviation10.0%———12.2%—
Property catastrophe-38.4%———-24.8%—
Property excluding property catastrophe4.7%———5.4%—
Specialty5.2%———5.4%—

Year Four

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty11.9%———12.1%—
Marine and aviation13.8%———15.0%—
Property catastrophe213.9%———138.8%—
Property excluding property catastrophe6.8%———7.3%—
Specialty6.4%———6.7%—

Year Nine

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty6.0%———4.7%—
Marine and aviation0.6%———1.1%—
Property catastrophe-0.8%———2.2%—
Property excluding property catastrophe1.1%———1.1%—
Specialty0.3%———0.0%—

Year One

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty2.8%———2.9%—
Marine and aviation1.4%———1.8%—
Property catastrophe-134.2%———-62.4%—
Property excluding property catastrophe23.6%———20.9%—
Specialty27.7%———26.2%—

Year Seven

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty7.5%———7.6%—
Marine and aviation2.3%———2.0%—
Property catastrophe-12.1%———-4.8%—
Property excluding property catastrophe0.8%———1.2%—
Specialty1.6%———1.2%—

Year Six

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty8.4%———7.8%—
Marine and aviation4.9%———6.4%—
Property catastrophe9.1%———17.4%—
Property excluding property catastrophe0.2%———1.8%—
Specialty4.0%———3.8%—

Year Ten

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty3.4%———3.0%—
Marine and aviation0.4%———6.2%—
Property catastrophe9.4%———5.7%—
Property excluding property catastrophe0.1%———-0.7%—
Specialty0.3%———0.1%—

Year Three

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty11.9%———11.8%—
Marine and aviation20.3%———19.8%—
Property catastrophe-22.5%———-23.8%—
Property excluding property catastrophe14.7%———14.5%—
Specialty14.2%———14.6%—

Year Two

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Casualty8.3%———8.2%—
Marine and aviation28.9%———24.3%—
Property catastrophe168.4%———110.1%—
Property excluding property catastrophe36.2%———37.0%—
Specialty29.2%———28.2%—

Cumulative number of reported claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Multi-line and other specialty26612500.0%———26542100.0%—
Property, energy, marine and aviation2017800.0%———2505400.0%—
Third party claims-made business2367100.0%———2985700.0%—
Third party occurrence business10255800.0%———10371100.0%—

Geographic

Net premiums written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe and other$546.5M$537M$537M$537M$537M—
International$501.3M$518.5M$518.5M$518.5M$518.5M—
North America$1.2B$1.4B$1.4B$1.4B$1.4B—
Other$72.3M$70M$70M$70M$70M—

Net premiums earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$481.3M$509M$509M$509M$509M—
North America$1.2B$1.4B$1.4B$1.4B$1.4B—

Business Segments

Acquisition expense ratio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance—18.5%19.6%19.6%—20.0%
Reinsurance0.1%20.6%20.9%19.8%—19.0%
Mortgage0.3%1.3%0.4%0.7%0.3%2.9%

Acquisition expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$345M$343M$387M$386M$380M$375M
Reinsurance$382M$417M$436M$398M$393M$347M
Mortgage$3M$4M$1M$2M$6M$8M

Amortization of Deferred Acquisition Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$304.3M$374M$374M$374M$374M—
Mortgage$500K$3.3M$3.3M$3.3M$3.3M—
Reinsurance$358M$411M$411M$411M$411M—

Assumed

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$270.8M$541.8M$541.8M$541.8M$541.8M—
Mortgage$55.3M$54.5M$54.5M$54.5M$54.5M—
Reinsurance$2.5B$2.6B$2.6B$2.6B$2.6B—

Ceded Premiums Written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance$353M$1.2B$1.1B$778M$438M$1.2B
Insurance$530M$712M$645M$614M$666M$791M
Mortgage$54M$60M$70M$56M$59M$50M

Change in unearned premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance—-$288M$28M$278M$486M-$345M
Insurance-$21M-$73M-$67M$16M—-$35M
Mortgage$29M$34M$28M$27M$23M$18M

Combined Ratio Percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance1.5%100.1%93.4%93.4%—96.5%
Reinsurance—91.8%78.5%76.1%—75.9%
Mortgage0.4%16.1%15.2%13.5%—22.3%

Deferred Acquisition Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$696M———$788M—
Mortgage$57M———$57M—
Reinsurance$981M———$872M—

Direct

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$2B$2.1B$2.1B$2.1B$2.1B—
Mortgage$282.5M$271.8M$271.8M$271.8M$271.8M—
Reinsurance$239M$223.8M$223.8M$223.8M$223.8M—

Goodwill and intangible assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$916M$878M$875M$833M$793M$769M
Mortgage$333M$328M$339M$335M$331M$328M
Reinsurance$102M$102M$105M$100M$98M$93M

Gross premiums written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance$1.9B$3.5B$3.2B$2.5B$1.9B$3.4B
Insurance$2.5B$2.6B$2.7B$2.6B$2.5B$2.7B
Mortgage$331M$326M$323M$330M$326M$316M

Loss ratio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance2.0%66.0%59.8%59.0%—60.2%
Reinsurance—66.9%54.1%51.6%—51.7%
Mortgage-0.4%1.1%-1.2%-0.5%-0.2%5.3%

Losses and loss adjustment expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$1.3B$1.2B$1.2B$1.2B$1.2B$1.1B
Reinsurance$1.1B$1.4B$1.1B$1B$1.1B$948M
Mortgage-$18M$3M-$3M-$2M-$2M$15M

Net Losses and Loss Adjustment Expenses Incurred

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$1B$1.2B$1.2B$1.2B$1.2B—
Mortgage-$13.8M-$1M-$1M-$1M-$1M—
Reinsurance$1.1B$1.2B$1.2B$1.2B$1.2B—

Net premiums earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$1.9B$1.9B$2B$2B$2B$1.9B
Reinsurance$1.9B$2B$2.1B$2B$2B$1.8B
Mortgage$306M$300M$281M$301M$290M$284M

Net premiums written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance$1.6B$2.3B$2.1B$1.7B$1.5B$2.2B
Insurance$2B$1.9B$2B$2B$1.9B$1.9B
Mortgage$277M$266M$253M$274M$267M$266M

Other Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$277M$294M$288M$301M$289M$315M
Reinsurance$77M$127M$118M$133M$91M$132M
Mortgage$56M$52M$48M$44M$41M$51M

Other operating expense ratio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance—15.6%14.0%14.8%—16.3%
Mortgage—13.7%16.0%13.3%—14.1%
Reinsurance—4.3%3.5%4.7%—5.2%

Other Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$248.8M$293M$293M$293M$293M—
Mortgage$51.8M$46.3M$46.3M$46.3M$46.3M—
Reinsurance$67.5M$117.3M$117.3M$117.3M$117.3M—

Other underwriting income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance$4M$39M$46M$38M$36M$37M
Insurance$0$3M$13M$9M$11M$11M
Mortgage$2M$11M$3M$3M$5M$11M

Percentage of Amount Assumed to Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance4.0%7.0%7.0%7.0%7.0%—
Mortgage5.0%5.1%5.1%5.1%5.1%—
Reinsurance32.8%33.7%33.7%33.7%33.7%—

Prior years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance-$74M-$127M-$81M-$75M-$109M-$172M
Mortgage-$62M-$61M-$64M-$54M-$56M-$54M
Insurance—-$17M-$13M-$27M-$6M-$14M

Reserves for Losses and Loss Adjustment Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$16.3B———$17.5B—
Mortgage$525M———$497M—
Reinsurance$12.6B———$15.5B—

Supplementary Insurance Information Premium Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$307.8M$293M$293M$293M$293M—

Supplementary Insurance Information Premiums Written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$278M$265M$265M$265M$265M—

Underwriting Income Loss Segment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reinsurance$328M$167M$451M$482M$458M$441M
Mortgage$267M$252M$238M$260M$250M$221M
Insurance$30M-$2M$129M$129M$119M$66M

Unearned Premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Insurance$4.9B———$5.2B—
Mortgage$470M———$356M—
Reinsurance$4.9B———$4.5B—

All outstanding liabilities before 2016, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$13M———$9M—

Cumulative number of paid claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage4686.00———3564.00—

Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$134M———$419M—

Dividends available for payment in 2025, total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$237M———$295M—

Incurred losses and allocated loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$180M———$721M—

Large claim size threshold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$62.5K$62.5K$62.5K$62.5K$62.5K—

Liabilities for losses and loss adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$321M———$311M—

Maximum risk to capital ratio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage2500.0%———2500.0%—

Required contingency loss reserve as a percentage of net earned premiums

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage50.0%———50.0%—

Total of IBNR liabilities plus expected development on reported claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$1M———$1M—

Unpaid losses and loss adjustment expenses recoverable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage$33M———$42M—

Withdrawal restriction period, with prior approval

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage35.0%———35.0%—

Year Eight

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage1.0%———1.3%—

Year Five

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage7.2%———9.6%—

Year Four

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage11.4%———14.3%—

Year Nine

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage0.5%———0.7%—

Year One

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage4.5%———4.1%—

Year Seven

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage1.5%———2.6%—

Year Six

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage2.5%———4.2%—

Year Ten

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage0.5%———0.5%—

Year Three

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage23.7%———26.0%—

Year Two

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage26.1%———26.0%—