Baltimore bridge collapse should be 'manageable loss' for insurers, Wells Fargo says [Seeking Alpha]
Arch Capital Group Ltd. (ACGL)
Last arch capital group ltd. earnings: 2/11 04:31 pm
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Source: Seeking Alpha
"Most losses should go to the International Group of P&I Clubs ("IG"), with reinsurance coverage up to $3.1B per vessel," she said. The tanker that crashed into the bridge is insured by the Britannia P&I Club, a member of the IG. Greenspan's initial sense is that the marine losses could reach the $3.1B level, exceeding the $1.5B loss from the Costa Concordia in 2012. She expects that Bermuda insurers Arch Capital Group ( NASDAQ: ACGL ), AXIS Capital Holdings ( NYSE: AXS ), Everest Group ( NYSE: EG ), and RennaissanceRe ( NYSE: RNR ) and European reinsurers Hannover Re ( OTCPK:HVRRF ), Swiss Re ( OTCPK:SSREF OTCPK:SSREY ), and Munich Re could have a share of the IG program. Property losses, too, are expected. The value of the bridge is estimated at ~$1.2B, but the insurance coverage isn't known, she said. "Overall, our sense is the loss will be shared across many reinsurers, and we are not concerned with one player having too much exposure," she wrote. In Tuesday's trading,
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News
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- Madison Mid Cap Fund Q1 2024 Investment Strategy Letter [Seeking Alpha]Seeking Alpha
- Arch Capital Group Ltd. (ACGL) Benefitted From Attractive Market Conditions [Yahoo! Finance]Yahoo! Finance
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Morgan Stanley from $104.00 to $109.00. They now have an "overweight" rating on the stock.MarketBeat
ACGL
Earnings
- 2/14/24 - Beat
ACGL
Sec Filings
- 4/5/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- ACGL's page on the SEC website