Arch Capital Group Ltd. - Current report filing (8-K)
23 Janvier 2008 - 4:35PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to
Section 13 or 15(d)
of the Securities Exchange Act of 1934
January 23, 2008 (January 18,
2008)
Date of Report (Date of
earliest event reported)
Arch Capital Group Ltd.
(Exact name of registrant as
specified in its charter)
Bermuda
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0-26456
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N/A
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(State or other
jurisdiction of
incorporation or
organization)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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Wessex House, 45 Reid
Street, Hamilton HM 12, Bermuda
(Address of principal
executive offices) (Zip Code)
Registrants telephone
number, including area code:
(441) 278-9250
N/A
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2.
below):
o
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Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 7.01
Regulation FD Disclosure
.
As of January 18, 2008, the overall credit quality of Arch Capital
Group Ltd.s (together with its subsidiaries, the Company) entire municipal
bond portfolio of approximately $1 billion was an average rating of Aaa by
Moodys Investors Service (Moodys) and AAA by Standard & Poors
Rating Services (Standard & Poors). As of such date, the
Company held insurance enhanced municipal bonds, net of prerefunded bonds that
are escrowed in U.S. government obligations, in the amount of approximately
$353 million, which represented approximately 3.6% of the Companys entire
investment portfolio. Giving no effect to the insurance enhancement, the
overall credit quality of the Companys insured municipal bond portfolio was an
average underlying rating of Aa3 by Moodys and AA- by Standard &
Poors. The Company also has approximately $12 million of insurance
enhanced asset-backed securities and mortgage-backed securities that have no
underlying credit ratings.
The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements. This Current Report on Form 8-K
or any other written or oral statements made by or on behalf of the Company may
include forward-looking statements which reflect the Companys current views
with respect to future events and financial performance. Forward-looking
statements involve the Companys current assessment of risks and uncertainties,
which may cause actual events and results and prospects to differ materially
from those expressed or implied in these statements. Certain information
regarding such risks and uncertainties is set forth in the Companys filings
with the Securities and Exchange Commission. 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.
The information in this Current Report on Form 8-K shall not be deemed
filed for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the
Exchange Act
), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such a filing.
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to
be signed on its behalf by the undersigned.
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ARCH CAPITAL
GROUP LTD.
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Date:
January 23, 2008
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By
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/s/ John D.
Vollaro
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Name:
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John D. Vollaro
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Title:
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Executive Vice
President,
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Chief Financial
Officer and Treasurer
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3
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