Arch Insurance Announces Closing of Acquisition of McNeil & Co.
06 Décembre 2018 - 4:35PM
Business Wire
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced the
completion of its previously disclosed acquisition of McNeil &
Co. (“McNeil”), a nationwide leader in specialized risk management
and insurance programs.
McNeil & Co., headquartered in Cortland, New York, will
operate as an independent, wholly owned subsidiary of Arch
Insurance.
“We are excited to complete this transaction, which will allow
us to deploy Arch’s substantial resources to help McNeil expand
their presence in the program space,” said Nicolas Papadopoulo,
Chairman and CEO of Arch Worldwide Insurance Group. “We know that
McNeil’s reputation and talented workforce will be a real asset to
our operations and will enable us to continue to expand what is
possible for our clients in the United States.”
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with
approximately $11.21 billion in capital at September 30, 2018,
provides insurance, reinsurance and mortgage insurance on a
worldwide basis through its wholly owned subsidiaries.
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
Capital Group Ltd. and its subsidiaries may include forward−looking
statements, which reflect our 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 our 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 our ability to maintain and improve our ratings;
investment performance; the loss of key personnel; the
adequacy of our 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; the impact of acts of terrorism and acts of war;
changes in regulations and/or tax laws in the United States or
elsewhere; our 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 us of reinsurance to
manage our gross and net exposures; the failure of others to
meet their obligations to us; and other factors identified in
our filings with the U.S. Securities and Exchange Commission.
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.
All subsequent written and oral forward−looking statements
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. We
undertake no obligation to publicly update or revise any
forward−looking statement, whether as a result of new information,
future events or otherwise.
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Arch Capital Group Ltd.François
Morin441-278-9250orArch Insurance GroupMark
Lange860-713-2026
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