Arch Capital Group Ltd. Releases 2023 Sustainability Reports

Rhea-AI Summary

Arch Capital Group (ACGL) releases its 2023 Sustainability Report, emphasizing ESG strategy and key impact areas. The reports highlight sustainable progress and collaborative successes, showcasing the company's commitment to incorporating sustainability practices into its operations and decision-making processes.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Capital Group Ltd. (NASDAQ: ACGL, Arch, the Company) today announced it has released its 2023 Sustainability Report, Sustainability Accounting Standards Board Report and Task Force for Climate-related Financial Disclosures.

These three reports detail Arch’s environmental, social and governance (ESG) strategy, as well as the five key impact areas that support and drive the Company’s ESG initiatives: Business, Operations, Investments, People and Communities. Organized under these pillars, Arch tracks sustainable progress and celebrates collaborative successes across the enterprise.

“This report marks our fifth year of reporting on how we incorporate sustainability practices into our daily operations and decision making across our business,” said Marcy Rathman, Chief ESG Officer for Arch Capital Group Ltd. “As a market-leading insurer, our business is built on long-term thinking, risk management expertise and an established history of delivering reliable results to the market. I’m proud of the progress that we’ve made to incorporate sustainability-driven thinking into core areas of our business and strengthen our ESG priorities.”

To learn more about ESG at Arch, or to download a copy of these reports, visit https://www.archgroup.com/sustainability-governance/.

About Arch Capital Group Ltd.

Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $21.1 billion in capital at Dec. 31, 2023, 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 the Company’s 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 the Company’s 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 the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s 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, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has 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 the Company of reinsurance to manage our gross and net exposures; the failure of others to meet their obligations to the Company; an incident, disruption in operations or other cyber event caused by cyber attacks, the use of artificial intelligence technologies or other technology on the Company’s systems or those of the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our filings with the U.S. Securities and Exchange Commission (SEC).

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 the Company’s behalf are expressly qualified in their entirety by these cautionary statements. 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.

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Source: Arch Capital Group Ltd.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240404767686/en/

Media:

Greg Hare ghare@archgroup.com

Stephanie Perez stperez@archgroup.com

Source: Arch Capital Group Ltd.

FAQ

What reports did Arch Capital Group (ACGL) announce the release of?

Arch Capital Group (ACGL) announced the release of its 2023 Sustainability Report, Sustainability Accounting Standards Board Report, and Task Force for Climate-related Financial Disclosures.

What are the key impact areas that support and drive Arch Capital Group 's (ACGL) ESG initiatives?

The key impact areas that support and drive Arch Capital Group 's (ACGL) ESG initiatives are Business, Operations, Investments, People, and Communities.

Who is the Chief ESG Officer for Arch Capital Group (ACGL) and what did they mention about the sustainability report?

Marcy Rathman is the Chief ESG Officer for Arch Capital Group (ACGL) and mentioned that the report marks the fifth year of reporting on how sustainability practices are incorporated into daily operations and decision making across the business.

What does Marcy Rathman, Chief ESG Officer for Arch Capital Group (ACGL), emphasize regarding sustainability practices in the business?

Marcy Rathman emphasizes the progress made in incorporating sustainability-driven thinking into core areas of the business and strengthening ESG priorities.