Arch Capital Group Ltd. Announces Catastrophe Loss Estimates | Business & Finance

PEMBROKE, Bermuda–(BUSINESS WIRE)–Apr 16, 2021–

Arch Capital Group Ltd. [NASDAQ: ACGL; “the Company”] reports that its 2021 first quarter results will be negatively impacted by the effects of North American winter storms Uri and Viola that occurred in February, as well as from other minor global events. As a result, the Company has established a range of pretax catastrophe losses of $180 million to $190 million in the 2021 first quarter across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums. Included in these estimates is a de minimis amount for ongoing exposure to COVID-19