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October 30, 2024 Reinsurance No comments

Third Quarter 2024 Financial Supplement

U.S. Markets via PUBT

Arch Capital Group Ltd.

Waterloo House, Ground Floor

100 Pitts Bay Road

Pembroke HM 08 Bermuda

Financial Supplement

September 30, 2024

The following financial supplement is provided to assist in your understanding of Arch Capital Group Ltd. ("Arch") and its subsidiaries (collectively, the "Company").

This report is for informational purposes only. It should be read in conjunction with documents filed by Arch with the U.S. Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and the Quarterly Reports on Form 10-Q. Please refer to the Company's website at www.archgroup.comfor further information describing Arch.

Arch Capital Group Ltd.	Investor Relations
François Morin: (441) 278-9250	Donald Watson: (914) 872-3616; [email protected]

Financial Highlights

Consolidated Financial Statements a.
b.
c.
d.

Segment Information a.
b.
c.
d.
e.
f.
g.

IV.	Investment Information
	a.
	b.
	c.
	d.
	e.
	f.

Other a.
b.
c.
d.

Arch Capital Group Ltd. and Subsidiaries

Table of Contents

Consolidated Statements of Income

Consolidated Balance Sheets

Consolidated Statements of Changes in Shareholders' Equity

Consolidated Statements of Cash Flows

Overview

Consolidated Results

Insurance Segment Results

Reinsurance Segment Results

Mortgage Segment Results

Segment Consolidated Results

Selected Information on Losses and Loss Adjustment Expenses

Investable Asset Summary and Investment Portfolio Metrics

Composition of Net Investment Income, Yield and Total Return

Composition of Fixed Maturities

Credit Quality Distribution and Maturity Profile

Analysis of Corporate Exposures

Structured Securities

Comments on Non-GAAP Financial Measures

Operating Income Reconciliation and Annualized Operating Retuon Average Common Equity Operating Income and Effective Tax Rate Calculations

Capital Structure and Share Repurchase Activity

Page

Arch Capital Group Ltd. and Subsidiaries

Basis of Presentation

All financial information contained herein is unaudited, however, certain information relating to the consolidated balance sheet at December 31, 2023 is derived from or agrees to audited financial information. Unless otherwise noted, all amounts are in millions, except for per share amounts and ratio information. Amounts presented have been rounded for presentation purposes and may not reconcile due to rounding differences.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of Arch and its subsidiaries may include forward-looking statements, which reflect the Company's current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward-looking statements.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward-looking statements involve the Company's current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company's ability to maintain and improve the Company's ratings; investment performance; the loss and addition of key personnel; the adequacy of the Company's loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company's ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses we have acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage gross and net exposures; the failure of others to meet their obligations to the Company; an incident, disruption in operations or other cyber event caused by cyber

attacks, the use of artificial intelligence technologies or other technology on the Company's systems or those of the Company's business partners and service providers, which could negatively impact the Company's business and/or expose the Company to litigation; and other factors identified in the Company's filings with the U.S. Securities and Exchange Commission.

All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. The Company's forward-looking statements speak only as of the date of this press release or as of the date they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Arch Capital Group Ltd. and Subsidiaries

Financial Highlights

The following table presents financial highlights:

(U.S. Dollars and shares in millions, except per share data)			Three Months Ended				Nine Months Ended
				September 30,					September 30,
		2024			2023		Change			2024		2023	Change
Underwriting results:
Gross premiums written	$	5,440	$	4,527		20.2 %	$	16,755	$	14,152	18.4 %
Net premiums written		4,047			3,355		20.6 %			11,913		10,207	16.7 %
Net premiums earned		3,970			3,248		22.2 %			10,957		9,096	20.5 %
Underwriting income (loss) (1)		538			721		(25.4)%			2,036		1,897	7.3 %
Loss ratio		60.5 %			50.7 %		9.8			54.4 %		50.7 %	3.7
Acquisition expense ratio		17.2 %			17.7 %		(0.5)			17.5 %		18.3 %	(0.8)
Other operating expense ratio		8.9 %			9.5 %		(0.6)			9.7 %		10.4 %	(0.7)
Combined ratio		86.6 %			77.9 %		8.7			81.6 %		79.4 %	2.2
Net investment income	$	399	$	269		48.3 %	$	1,090	$	710	53.5 %
Per diluted share	$	1.04	$	0.71		46.5 %	$	2.86	$	1.88	52.1 %
Net income available to Arch common shareholders	$	978	$	713		37.2 %	$	3,347	$	2,079	61.0 %
Per diluted share	$	2.56	$	1.88		36.2 %	$	8.78	$	5.50	59.6 %
After-tax operating income available to Arch common shareholders (1)	$	762	$	876		(13.0)%	$	2,676	$	2,256	18.6 %
Per diluted share	$	1.99	$	2.31		(13.9)%	$	7.02	$	5.96	17.8 %
Comprehensive income (loss) available to Arch	$	1,598	$	589		171.3 %	$	3,853	$	2,302	67.4 %
Net cash provided by operating activities	$	2,018	$	1,970		2.4 %	$	5,100	$	4,084	24.9 %
Weighted average common shares and common share equivalents outstanding - diluted		382.3			379.4		0.8 %			381.3		378.3	0.8 %
Financial measures:
Change in book value per common share during period		8.1 %			4.3 %		3.8			21.4 %		18.4 %	3.0
Annualized net income retuon average common equity		19.0 %			20.2 %		(1.2)			22.9 %		20.9 %	2.0
Annualized operating retuon average common equity (1)		14.8 %			24.8 %		(10.0)			18.3 %		22.7 %	(4.4)
Total retuon investments (2)		3.97 %			(0.40)%		437 bps			6.20 %		2.68 %	352 bps

See 'Comments on Non-GAAP Financial Measures' for a further discussion of consolidated underwriting income or loss, after-tax operating income or loss available to Arch common shareholders and annualized operating retuon average common equity.
Total retuon investments includes investment income, equity in net income (loss) of investment funds accounted for using the equity method, net realized gains and losses and the change in unrealized gains and losses and is calculated on a pre-tax basis and before investment expenses. See 'Comments on Non-GAAP Financial Measures' for a further discussion of the presentation of total retuon investments.

Arch Capital Group Ltd. and Subsidiaries

Consolidated Statements of Income

(U.S. Dollars and shares in millions, except per share data)						Three Months Ended								Nine Months Ended
	September 30,			June 30,			March 31,	December 31,		September 30,		September 30,		September 30,
		2024			2024			2024				2023			2023			2024			2023
Revenues
Net premiums earned	$	3,970	$	3,565	$	3,422			$	3,344	$	3,248	$	10,957	$	9,096
Net investment income		399			364			327				313			269			1,090			710
Net realized gains (losses)		169			122			67				189			(248)			358			(354)
Other underwriting income		5			3			12				10			5			20			21
Equity in net income (loss) of investment funds accounted for using the equity method		171			167			99				102			59			437			176
Other income (loss)		8			8			14				17			(4)			30			10
Total revenues		4,722			4,229			3,941				3,975			3,329			12,892			9,659
Expenses
Losses and loss adjustment expenses		(2,403)			(1,827)			(1,728)				(1,637)			(1,647)			(5,958)			(4,609)
Acquisition expenses		(681)			(633)			(607)				(643)			(575)			(1,921)			(1,669)
Other operating expenses		(353)			(346)			(363)				(359)			(310)			(1,062)			(942)
Corporate expenses		(49)			(41)			(53)				(31)			(20)			(143)			(71)
Amortization of intangible assets		(88)			(27)			(21)				(24)			(24)			(136)			(71)
Interest expense		(35)			(35)			(34)				(34)			(34)			(104)			(99)
Net foreign exchange gains (losses)		(63)			1			31				(59)			22			(31)			(1)
Total expenses		(3,672)			(2,908)			(2,775)				(2,787)			(2,588)			(9,355)			(7,462)
Income (loss) before income taxes and income (loss) from operating affiliates		1,050			1,321			1,166				1,188			741			3,537			2,197
Income tax (expense) benefit		(98)			(97)			(101)				1,076			(72)			(296)			(203)
Income (loss) from operating affiliates		36			45			55				69			54			136			115
Net income (loss)		988			1,269			1,120				2,333			723			3,377			2,109
Net (income) loss attributable to noncontrolling interests		-			-			-		1			-			-			-
Net income (loss) attributable to Arch		988			1,269			1,120				2,334			723			3,377			2,109
Preferred dividends		(10)			(10)			(10)				(10)			(10)			(30)			(30)
Net income (loss) available to Arch common shareholders	$	978		$	1,259		$	1,110			$	2,324		$	713		$	3,347		$	2,079
Comprehensive income (loss) available to Arch	$	1,598	$	1,280	$	975			$	3,111	$	589	$	3,853	$	2,302
Net income (loss) per common share and common share equivalent
Basic	$	2.62	$	3.38	$	2.99			$	6.29	$	1.93	$	8.99	$	5.64
Diluted	$	2.56	$	3.30	$	2.92			$	6.12	$	1.88	$	8.78	$	5.50
Weighted average common shares and common share equivalents outstanding
Basic		373.2			372.7			370.9				369.6			369.2			372.3			368.4
Diluted		382.3			381.6			380.5				379.8			379.4			381.3			378.3

Arch Capital Group Ltd. and Subsidiaries

Consolidated Balance Sheets

(U.S. Dollars and shares in millions, except per share data)	September 30,			June 30,			March 31,			December 31,		September 30,
		2024			2024			2024			2023			2023
Assets
Investments:
Fixed maturities available for sale, at fair value	$	28,434	$	25,202	$	23,628	$	23,553	$	22,485
Short-term investments available for sale, at fair value		3,341			2,297			2,142			2,063			1,682
Equity securities, at fair value		1,623			1,397			1,720			1,186			894
Other investments		3,261			3,206			2,886			2,488			2,068
Investments accounted for using the equity method		5,244			4,983			4,842			4,566			4,251
Total investments		41,903			37,085			35,218			33,856			31,380
Cash		1,025			1,020			993			917			859
Accrued investment income		292			287			236			236			217
Investment in operating affiliates		1,236			1,143			1,174			1,119			1,000
Premiums receivable		6,364			6,268			5,765			4,644			4,937
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses		7,948			7,473			7,509			7,064			6,821
Contractholder receivables		2,078			2,016			1,907			1,814			1,805
Ceded unearned premiums		2,935			2,981			2,717			2,170			2,444
Deferred acquisition costs		1,744			1,635			1,625			1,531			1,483
Receivable for securities sold		790			116			166			63			59
Goodwill and intangible assets		1,486			725			778			731			739
Other assets		5,855			4,716			4,680			4,761			3,483
Total assets	$	73,656		$	65,465		$	62,768		$	58,906		$	55,227
Liabilities
Reserve for losses and loss adjustment expenses	$	28,679	$	24,466	$	23,705	$	22,752	$	21,836
Unearned premiums		11,238			10,452			9,971			8,808			9,074
Reinsurance balances payable		2,586			2,591			2,497			2,000			2,215
Contractholder payables		2,082			2,020			1,910			1,817			1,807
Collateral held for insured obligations		268			263			263			259			274
Senior notes		2,727			2,727			2,727			2,726			2,726
Payable for securities purchased		967			410			433			247			417
Other liabilities		2,835			1,871			1,905			1,942			1,637
Total liabilities		51,382			44,800			43,411			40,551			39,986
Redeemable noncontrolling interests		-			-			2			2			2
Shareholders' equity
Non-cumulative preferred shares		830			830			830			830			830
Common shares		1			1			1			1			1
Additional paid-in capital		2,465			2,443			2,401			2,327			2,297
Retained earnings		23,642			22,664			21,405			20,295			17,971
Accumulated other comprehensive income (loss), net of deferred income tax		(200)			(810)			(821)			(676)			(1,453)
Common shares held in treasury, at cost		(4,464)			(4,463)			(4,461)			(4,424)			(4,407)
Total shareholders' equity		22,274			20,665			19,355			18,353			15,239
Total liabilities, noncontrolling interests and shareholders' equity	$	73,656		$	65,465		$	62,768		$	58,906		$	55,227
Common shares and common share equivalents outstanding, net of treasury shares		376.2			376.0			375.3			373.3			373.1
Book value per common share (1)	$	57.00	$	52.75	$	49.36	$	46.94	$	38.62

(1) Excludes the effects of stock options and restricted stock units outstanding.

Arch Capital Group Ltd. and Subsidiaries

Consolidated Statements of Changes in Shareholders' Equity

(U.S. Dollars in millions)						Three Months Ended								Nine Months Ended
	September 30,			June 30,			March 31,	December 31,		September 30,		September 30,		September 30,
		2024			2024			2024				2023			2023			2024			2023
Non-cumulative preferred shares
Balance at beginning and end of period	$	830	$	830	$	830			$	830	$	830	$	830	$	830
Common shares
Balance at beginning and end of period		1			1			1				1			1			1			1
Additional paid-in capital
Balance at beginning of period		2,443			2,401			2,327				2,297			2,278			2,327			2,211
Amortization of share-based compensation		16			16			68				20			15			100			73
All other		6			26			6				10			4			38			13
Balance at end of period		2,465			2,443			2,401				2,327			2,297			2,465			2,297
Retained earnings
Balance at beginning of period		22,664			21,405			20,295				17,971			17,258			20,295			15,892
Net income		988			1,269			1,120				2,333			723			3,377			2,109
Amounts attributable to noncontrolling interests		-			-			-		1			-			-			-
Preferred share dividends		(10)			(10)			(10)				(10)			(10)			(30)			(30)
Balance at end of period		23,642			22,664			21,405				20,295			17,971			23,642			17,971
Accumulated other comprehensive income (loss), net of deferred income tax
Balance at beginning of period		(810)			(821)			(676)				(1,453)			(1,319)			(676)			(1,646)
Change in unrealized appreciation (decline) in value of available-for-sale investments		585			27			(112)				721			(94)			500			226
Change in foreign currency translation adjustments		25			(16)			(33)				56			(40)			(24)			(33)
Balance at end of period		(200)			(810)			(821)				(676)			(1,453)			(200)			(1,453)
Common shares held in treasury, at cost
Balance at beginning of period		(4,463)			(4,461)			(4,424)				(4,407)			(4,407)			(4,424)			(4,378)
Shares repurchased for treasury		(1)			(2)			(37)				(17)			-			(40)			(29)
Balance at end of period		(4,464)			(4,463)			(4,461)				(4,424)			(4,407)			(4,464)			(4,407)
Total shareholders' equity
$	22,274		$	20,665		$	19,355			$	18,353		$	15,239		$	22,274		$	15,239

Arch Capital Group Ltd. and Subsidiaries

Consolidated Statements of Cash Flows

(U.S. Dollars in millions)					Three Months Ended								Nine Months Ended
	September 30,			June 30,			March 31,	December 31,		September 30,		September 30,		September 30,
		2024			2024			2024				2023			2023			2024			2023
Operating Activities
Net income (loss)	$	988	$	1,269	$	1,120			$	2,333	$	723	$	3,377	$	2,109
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized (gains) losses		(165)			(144)			(52)				(185)			257			(361)			367
Equity in net (income) or loss of investment funds accounted for using the equity method and
other income or loss		(162)			(62)			(112)				(111)			(55)			(336)			(104)
Amortization of intangible assets		88			27			21				24			24			136			71
Share-based compensation		16			16			68				20			15			100			73
Changes in:
Reserve for losses and loss adjustment expenses, net		1,078			709			660				534			584			2,447			1,604
Unearned premiums, net		77			216			663				(83)			107			956			1,111
Premiums receivable		178			(523)			(1,159)				352			315			(1,504)			(1,333)
Deferred acquisition costs		(86)			2			(82)				(45)			(38)			(166)			(190)
Reinsurance balances payable		(27)			95			521				(237)			40			589			692
Deferred income tax assets, net		16			21			24				(1,201)			(18)			61			40
Other items, net		17			(108)			(108)				264			16			(199)			(356)
Net cash provided by operating activities		2,018			1,518			1,564				1,665			1,970			5,100			4,084
Investing Activities
Purchases of fixed maturity investments		(7,436)			(5,798)			(8,325)				(5,038)			(4,184)			(21,559)			(13,024)
Purchases of equity securities		(278)			(145)			(509)				(280)			(72)			(932)			(176)
Purchases of other investments		(529)			(875)			(494)				(1,059)			(555)			(1,898)			(1,112)
Proceeds from sales of fixed maturity investments		5,227			3,691			7,529				4,450			2,576			16,447			9,655
Proceeds from sales of equity securities		126			482			65				72			55			673			216
Proceeds from sales, redemptions and maturities of other investments		405			503			116				423			144			1,024			345
Proceeds from redemptions and maturities of fixed maturity investments		392			515			363				192			221			1,270			589
Net settlements of derivative instruments		115			7			5				119			(115)			127			(69)
Net (purchases) sales of short-term investments		(793)			65			(90)				(373)			10			(818)			(323)
Acquisitions, net of cash		852			-			-		-			-			852			-
Purchases of fixed assets		(12)			(11)			(15)				(15)			(11)			(38)			(37)
Other		(32)			57			(54)				(23)			(4)			(29)			-
Net cash provided by (used for) investing activities		(1,963)			(1,509)			(1,409)				(1,532)			(1,935)			(4,881)			(3,936)
Financing Activities
Proceeds from common shares issued, net		6			24			(32)				(7)			5			(2)			5
Change in third party investment in redeemable noncontrolling interests		-			-			-		-			-			-			(22)
Other		(3)			-			-		-			(2)			(3)			(5)
Preferred dividends paid		(10)			(10)			(10)				(10)			(10)			(30)			(30)
Net cash provided by (used for) financing activities		(7)			14			(42)				(17)			(7)			(35)			(52)
Effects of exchange rate changes on foreign currency cash and restricted cash		37			4			(11)				27			(26)			30			(14)
Increase (decrease) in cash and restricted cash		85			27			102				143			2			214			82
Cash and restricted cash, beginning of period		1,627			1,600			1,498				1,355			1,353			1,498			1,273
Cash and restricted cash, end of period	$	1,712		$	1,627		$	1,600			$	1,498		$	1,355		$	1,712		$	1,355
Income taxes paid (received)	$	76		$	151		$	(6)			$	140		$	54		$	221		$	127
Interest paid	$	-	$	63	$	-	$	64	$	-	$	63	$	63

Arch Capital Group Ltd. and Subsidiaries

Segment Information - Overview

The Company's Insurance, Reinsurance and Mortgage segments each have managers who are responsible for the overall profitability of their respective segments and who are directly accountable to the Company's chief operating decision makers, the Chief Executive Officer and the Chief Financial Officer and Treasurer. The chief operating decision makers do not assess performance, measure retuon equity or make resource allocation decisions on a line of business basis. Management measures segment performance for its three underwriting segments based on underwriting income or loss. The Company does not manage its assets by underwriting segment and, accordingly, investment income is not allocated to each underwriting segment.

The Company determined its reportable operating segments using the management approach described in accounting guidance regarding disclosures about segments of an enterprise and related information. The accounting policies of the segments are the same as those used for the preparation of the Company's consolidated financial statements. Intersegment business is allocated to the segment accountable for the underwriting results.

Insurance Segment

The Company's insurance segment primarily consists of commercial insurance lines of business, with a focus on specialty insurance products. These products are mainly offered in North America, Bermuda, the United Kingdom, continental Europe and Australia. Products offered in North America include: commercial automobile; commercial multi-peril; other liability-claims made, which includes financial and professional lines; other liability- occurrence, which includes admitted and excess and surplus casualty lines; property and short-tail specialty; workers compensation; and other. Products offered across the Company's International units include: property and short-tail specialty; and casualty and other.

Reinsurance Segment

The Company's reinsurance segment offers reinsurance products on a worldwide basis. Lines of business include: casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe; and other.

Mortgage Segment

The Company's mortgage segment includes: U.S. primary mortgage insurance business written predominantly through its eligible mortgage insurers by the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac"), each a government sponsored entity ("GSE"), and also through non GSE- approved entities (combined "Arch MI U.S."); U.S. credit-risk transfer ("CRT") business and other U.S. mortgage reinsurance transactions; and international mortgage insurance and reinsurance operations.

The Company's results also include net investment income, net realized gains or losses (which includes realized and unrealized changes in the fair value of equity securities and assets accounted for using the fair value option, realized and unrealized gains and losses on derivative instruments, changes in the allowance for credit losses on financial assets and gains and losses realized from acquisition or disposition of subsidiaries), equity in net income or loss of investment funds accounted for using the equity method, other income (loss), corporate expenses, transaction costs and other, amortization of intangible assets, interest expense, net foreign exchange gains or losses, income taxes items (which for the 2023 fourth quarter reflects the establishment of a net deferred tax asset related to the enactment of Bermuda's new corporate income tax), income or loss from operating affiliates and items related to the Company's non cumulative preferred shares.

Arch Capital Group Ltd. and Subsidiaries

Segment Information

(U.S. Dollars in millions)				Three Months Ended
				September 30, 2024
		Insurance		Reinsurance		Mortgage			Total
Gross premiums written (1)	$	2,341	$	2,763	$	339		$	5,440
Premiums ceded (1)		(521)		(818)		(57)			(1,393)
Net premiums written		1,820		1,945		282			4,047
Change in unearned premiums		(55)		(53)		31			(77)
Net premiums earned		1,765		1,892		313			3,970
Other underwriting income (loss)		-		2		3			5
Losses and loss adjustment expenses		(1,087)		(1,317)		1			(2,403)
Acquisition expenses		(308)		(374)		1			(681)
Other operating expenses		(250)		(54)		(49)			(353)
Underwriting income (loss)	$	120	$	149	$	269			538
Net investment income									399
Net realized gains (losses)									169
Equity in net income (loss) of investment funds accounted for using the equity method									171
Other income (loss)									8
Corporate expenses (2)									(19)
Transaction costs and other (2)									(30)
Amortization of intangible assets									(88)
Interest expense									(35)
Net foreign exchange gains (losses)									(63)
Income (loss) before income taxes and income (loss) from operating affiliates									1,050
Income tax (expense) benefit									(98)
Income (loss) from operating affiliates									36
Net income (loss) available to Arch									988
Preferred dividends									(10)
Net income (loss) available to Arch common shareholders								$	978
Underwriting Ratios
Loss ratio		61.6 %		69.6 %		(0.4)%			60.5 %
Acquisition expense ratio		17.4 %		19.8 %		(0.4)%			17.2 %
Other operating expense ratio		14.1 %		2.9 %		15.6 %			8.9 %
Combined ratio		93.1 %		92.3 %		14.8 %			86.6 %
Net premiums written to gross premiums written		77.7 %		70.4 %		83.2 %			74.4 %
Total investable assets							$	42,751
Total assets									73,656
Total liabilities									51,382

Certain assumed and ceded amounts related to intersegment transactions are included in individual segment results. Accordingly, the sum of such transactions for each segment does not agree to the total due to eliminations.
Certain expenses have been excluded from 'corporate expenses' and reflected in 'Transaction costs and other.' See 'Comments on Non-GAAP Financial Measures' for a further discussion of such items.

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Arch Capital Group Ltd. published this content on October 30, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on October 30, 2024 at 20:40:07.190.