Business
Arch Capital Group Ltd. Announces Completion of the Redemption of 5.25% Series E Preferred Shares
PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Capital Group Ltd. [NASDAQ: ACGL] announced today that it completed the redemption on Sept. 30, 2021 (the
About this update from Arch Capital Group Ltd.
[{"type":"text","content":" PEMBROKE, Bermuda--(BUSINESS WIRE)--\nArch Capital Group Ltd. [NASDAQ: ACGL] announced today that it completed the redemption on Sept. 30, 2021 (the “Redemption Date”) of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares (the “Series E Preferred Shares”) represented by 18,000,000 depositary shares, each of which represents a 1/1,000th interest in a Series E Preferred Share (the “Depositary Shares” and together with the Series E Preferred Shares, the “Shares”).\n\nAll of the Series E Preferred Shares were redeemed at a redemption price equal to $25,000 per Series E Preferred Share (or $25.00 per Depositary Share; the “Redemption Price”). The Redemption Price was paid on the Redemption Date to holders of record of the Shares on the Redemption Date. Record holders of the Shares as of Sept. 15, 2021 were also paid the previously announced dividend for the third quarter of 2021 of $328.125 per Series E Preferred Share (or $0.328125 per Depositary Share) on the Redemption Date.\n\nOn the Redemption Date, the Shares ceased to be outstanding with no further dividends to be accrued or paid thereafter.\n\nAbout Arch Capital Group Ltd.\n\nArch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $16.7 billion in capital at June 30, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.\n\nCautionary Note Regarding Forward-looking Statements\n\nThe 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.\n\nForward-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 fro...