Key Developments For Arch Capital Group Ltd.
Arch Capital Group Ltd. (ACGL.O) (Nasdaq)
Arch Capital Group Ltd. Announces Additional $1 Billion Share Repurchase Authorization
Arch Capital Group Ltd. announced that its Board of Directors authorized the Company to invest up to an additional $1 billion in the Company's common shares. This authorization is in addition to the $350.1 million available at September 30, 2009 under the Board's previous share repurchase authorizations. Repurchases under the new authorization may be effected from time to time in open market or privately negotiated transactions through December 31, 2011. The timing and amount of the repurchase transactions under this authorization will depend on a variety of factors, including market conditions and corporate and regulatory considerations.
Arch Capital Group Ltd. Announces Authorized Investment Of Up To $1.5 Billion In Common Shares Through Share Repurchase Program
Arch Capital Group Ltd. (ACGL) announced that its Board has authorized the investment of up to $1.5 billion in ACGL's common shares through a share repurchase program. Repurchases under the program may be effected from time to time in open market or privately negotiated transactions through February 2010. Since the inception of the share repurchase program through June 30, 2009, ACGL has repurchased approximately 15.3 million common shares for an aggregate purchase price of $1.05 billion. At June 30, 2009, approximately $448.3 million of repurchases were available under the share repurchase program.
Arch Capital Group Ltd. Announces Constantine Iordanou To Succeed Paul Ingrey As Chairman
Arch Capital Group Ltd. announced that Constantine (Dinos) Iordanou, President and CEO, was appointed to the additional position of Chairman of the Board, effective November 2009. He will succeed Paul B. Ingrey, who will be retiring as Chairman at the end of his employment term on November 6, 2009.
Arch Capital Group Ltd. Files Mixed Securities Shelf-DJ
Dow Jones reported that Arch Capital Group Ltd. registered with the Securities and Exchange Commission to sell from time to time an indeterminate amount of mixed securities. The Company said it may offer common shares, preference shares, debt securities, depositary shares, warrants, share purchase contracts and share purchase units. The Company said it intends to use the net proceeds for general corporate purposes.
Arch Capital Group Ltd. Issues Q4 2008 Earnings Outlook
Arch Capital Group Ltd. announced that for the fourth quarter of 2008, it expects to report after-tax operating income available for common shareholders in the range of $75 million to $90 million.
