About Arch Capital Group

Arch Capital Group Ltd., through its wholly owned subsidiaries, provides insurance, reinsurance, and mortgage insurance worldwide. While the company is positioned to provide a full range of property, casualty and mortgage insurance and reinsurance lines, it focuses on writing specialty lines of insurance and reinsurance. Segments The company operates through three segments: Insurance, Reinsurance, and Mortgage. Insurance segment Insurance operations are conducted in Bermuda, the U.S, the U.K., Europe, Canada, and Australia. The company’s insurance operations in Bermuda are conducted through Arch Insurance (Bermuda), a division of Arch Re Bermuda, and Alternative Re Limited. In the U.S., the company’s insurance group’s principal insurance subsidiaries are Arch Insurance Company (Arch Insurance), Arch Specialty Insurance Company (Arch Specialty), Arch Indemnity Insurance Company (Arch Indemnity Insurance) and Arch Property Casualty Insurance Company (Arch P&C). Arch Insurance is an admitted insurer in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. Arch Specialty is an approved excess and surplus lines insurer in 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands and an authorized insurer in one state. Arch Indemnity Insurance is an admitted insurer in 50 states and the District of Columbia. Arch P&C is an admitted insurer in 44 states and the District of Columbia and is filing applications for admission in all remaining states where it is not yet admitted. The company’s insurance group also operates McNeil, a specialized risk manager and a program administrator based in Cortland, New York. The headquarters for the company’s insurance group’s U.S. support operations (excluding underwriting units) are in Jersey City, New Jersey. The insurance group has offices throughout the U.S., including five regional offices located in Alpharetta, Georgia; Chicago, Illinois; New York, New York; San Francisco, California; Dallas, Texas and additional branch offices. The company’s insurance operations in Canada are conducted through Arch Insurance Canada Ltd. (Arch Insurance Canada), a Canada domestic company which is authorized in all Canadian provinces and territories. Arch Insurance Canada is headquartered in Toronto, Ontario. In 2019, Arch Insurance (EU), based in Dublin, Ireland, received authorization from the Central Bank of Ireland (CBI) to expand its authorized classes of business as part of the company’s plan to address the U.K.’s departure from the European Union (Brexit). At the end of 2020, Arch Insurance (U.K.) received court approval in the U.K. to transfer its legacy book of business written in the European Economic Area (EEA) to Arch Insurance (EU) under Part VII of the U.K. Financial Services and Markets Act 2000. From January 2020, all of the insurance business in the European Union (EU) previously written by Arch Insurance (U.K.) is now written through Arch Insurance (EU). Arch Insurance (EU) has branches in Italy, France, Spain and the U.K. The company conducts insurance operations on several platforms in the U.K., including Arch Insurance (U.K.) and its Lloyd’s syndicates: Arch Syndicate 2012 (Arch Syndicate 2012) and Arch Syndicate 1955 (Arch Syndicate 1955 and, together with Arch Syndicate 2012, its Lloyd’s Syndicates). Arch Managing Agency Limited (AMAL) is the managing agent of the company’s Lloyd’s Syndicates. These operations provide the company access to Lloyd’s extensive distribution network and worldwide licenses. AMAL also acts as managing agent for third party members of Arch Syndicate 1955. Arch Underwriting at Lloyd’s (Australia) Pty Ltd, based in Sydney, Australia, is a Lloyd’s services company which underwrites exclusively for the company’s Lloyd’s Syndicates. Collectively, the U.K. insurance operations are referred to as Arch U.K. Arch U.K. conducts its operations from London and other locations in the U.K. In December 2023, the company signed an agreement for the sale of Castel Underwriting Agencies Limited, a managing general agency in the U.K. that it acquired as part of the Barbican acquisition. The sale is expected to close in the first half of 2024, subject to regulatory approvals and other closing conditions. Strategy The company’s insurance group’s strategy is to operate in lines of business in which underwriting expertise can make a meaningful difference in operating results. The insurance group focuses on talent-intensive rather than labor-intensive business and seeks to operate profitably (on both a gross and net basis) across all of its product lines. The key elements of the company’s strategy are to centralize responsibility for underwriting; maintain a disciplined underwriting philosophy; focus on providing superior claims management; promote and utilize an efficient distribution system; and grow strategic partnerships or acquire strategic businesses in stable and niche areas. The company’s insurance group writes business in the U.S. on both a U.S. admitted and U.S. non-admitted basis. The company’s insurance group focuses on various specialty lines. Marketing The company’s insurance group’s products are marketed principally through a group of licensed independent retail and wholesale brokers. Clients (insureds) are referred to the company’s insurance group through a large number of international, national and regional brokers and captive managers who receive from the insured or insurer a set fee or brokerage commission usually equal to a percentage of gross premiums. The company’s insurance group may enter into contingent commission arrangements with some brokers that provide for the payment of additional commissions based on volume or profitability of business. Some of the company’s contracts with brokers provide for additional commissions based on volume. It is the practice for the brokers and producers to make the client aware of any contingent commission arrangements that may be in place with the company. It has also entered into service agreements with select international brokers that provide access to their proprietary industry analytics. In general, the company’s insurance group has no implied or explicit commitments to accept business from any particular broker and neither brokers nor any other third parties have the authority to bind its insurance group, except in the case where underwriting authority may be delegated contractually to select program administrators. Such administrators are subject to a financial and operational due diligence review prior to any such delegation of authority and ongoing reviews and audits are carried out as deemed necessary by its insurance group to assure the continuing integrity of underwriting and related business operations. Claims Management The company’s insurance group’s claims management function is performed by claims professionals, as well as experienced external claims managers (third party administrators), where appropriate. In addition to investigating, evaluating and resolving claims, members of the company’s insurance group’s claims departments work with underwriting professionals as functional teams in order to develop products and services desired by the group’s clients. Reinsurance segment Reinsurance operations are conducted on a worldwide basis through the company’s reinsurance subsidiaries, Arch Re Bermuda, Arch Re U.S., Arch Syndicate 2012, Arch Syndicate 1955 and Arch Re Europe. Arch Re Bermuda is dual-licensed as a Class 4 general business insurer and Class C long-term insurer and is headquartered in Hamilton, Bermuda. Arch Re Bermuda has been approved as a certified reinsurer in certain U.S. states that allow reduced collateral for reinsurance ceded to such reinsurers. Arch Re Bermuda has also been approved in certain U.S. states as a reciprocal jurisdiction reinsurer, which allows ceding companies to eliminate collateral requirements for reinsurance ceded to such reinsurers and still take credit for that reinsurance. Arch Re U.S. is licensed or is an accredited or otherwise approved reinsurer in 50 states, the District of Columbia and Puerto Rico, the provinces of Ontario and Quebec in Canada with its principal U.S. offices in Morristown, New Jersey. Treaty and facultative operations in Canada are conducted through the Canadian branch of Arch Re U.S. (Arch Re Canada). Arch Re U.S. is also an admitted insurer in Guam. The company’s property facultative reinsurance operations are conducted primarily through Arch Re U.S. The property facultative reinsurance operations have offices throughout the U.S., Canada, Europe and the U.K. Arch Re Europe, licensed and authorized as a non-life reinsurer and a life reinsurer, is headquartered in Dublin, Ireland with branch offices outside the EEA in Zurich and London. AMAL is the managing agent for the reinsurance operations of Arch Syndicate 2012 and Arch Syndicate 1955. In December 2022, Arch Group Reinsurance Ltd. (AGRL) was registered as a Class 3A general business insurer carrying on affiliated reinsurance business pursuant to the Insurance Act of 1978 of Bermuda. AGRL, a wholly-owned subsidiary of Arch-U.S., was established to provide internal quota share reinsurance covering certain U.S. lines of business. AGRL is a U.S. taxpayer through a section 953(d) voluntary election under the Internal Revenue Code of 1986, as amended. Strategy The company’s reinsurance group’s strategy is to capitalize on its financial capacity, experienced management and operational flexibility to offer multiple products through its operations. The reinsurance group’s operating principles are to actively select and manage risks; and maintain flexibility and respond to changing market conditions. The company’s reinsurance group writes business on both a proportional and non-proportional basis and writes both treaty and facultative business. In a proportional reinsurance arrangement (also known as pro rata reinsurance, quota share reinsurance or participating reinsurance), the reinsurer shares a proportional part of the original premiums and losses of the reinsured. Marketing The company’s reinsurance group generally markets its reinsurance products through brokers, except its property facultative reinsurance group, which generally deals directly with the ceding companies. The company’s reinsurance group generally pays brokerage fees to brokers based on negotiated percentages of the premiums written through such brokers. Risk Management and Retrocession The company’s reinsurance group purchases a combination of per event excess of loss, per risk excess of loss, proportional retrocessional agreements and other structures that are available in the market. Such arrangements reduce the effect of individual or aggregate losses on, and in certain cases may also increase the underwriting capacity of, the company’s reinsurance group. The company’s reinsurance group will continue to evaluate its retrocessional requirements based on its net appetite for risk. For catastrophe exposed reinsurance business, the company’s reinsurance group seeks to limit the amount of exposure it assumes from any one reinsured and the amount of the aggregate exposure to catastrophe losses from a single event in any one geographic zone. Claims Management Claims management includes the receipt of initial loss reports, creation of claim files, determination of whether further investigation is required, establishment and adjustment of case reserves and payment of claims. Additionally, audits are conducted for both specific claims and overall claims procedures at the offices of selected ceding companies. The company’s reinsurance group makes use of outside consultants for claims work from time to time. Mortgage Operations The company’s mortgage operations include mortgage insurance and reinsurance in the U.S. and internationally, as well as participation in GSE credit risk-sharing transactions. The company’s mortgage group includes direct mortgage insurance in the U.S. primarily through Arch Mortgage Insurance Company, United Guaranty Residential Insurance Company, and Arch Mortgage Guaranty Company (together, Arch MI U.S.); mortgage reinsurance primarily through Arch Re Bermuda on both a proportional and non-proportional basis globally; mortgage insurance and reinsurance in the EEA and U.K. primarily through Arch Insurance (EU), and in Australia through Arch Indemnity; and participation in various GSE credit risk-sharing products primarily through Arch Re Bermuda. In 2014, the company entered the U.S. mortgage insurance marketplace, underwriting on the Arch Mortgage Insurance Company platform. Arch Mortgage Insurance Company is licensed and operates in all 50 states, the District of Columbia and Puerto Rico. In 2016, the company completed the acquisition of UGC and its primary operating subsidiary, United Guaranty Residential Insurance Company, which is licensed and operates in all 50 states and the District of Columbia. Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company have each been approved as an eligible mortgage insurer by Fannie Mae and Freddie Mac, subject to maintaining certain ongoing requirements (eligible mortgage insurer). Arch Mortgage Guaranty Company offers direct mortgage insurance to U.S. mortgage lenders with respect to mortgages that lenders intend to retain in portfolio or include in non-agency securitizations. Arch Mortgage Guaranty Company, which is licensed in all 50 states and the District of Columbia, insures mortgages that are not intended to be sold to the GSEs, and it is therefore not approved by either GSE as an eligible mortgage insurer. In 2019, Arch LMI was authorized by APRA to write lenders’ mortgage insurance. In August 2021, the company acquired Arch Indemnity, which is also authorized by APRA to write lenders’ mortgage insurance. In December 2022, the company converted Arch LMI to a services company for its Australian lenders mortgage insurance operations and the company relinquished its APRA authorization. Arch LMI and Arch Indemnity are headquartered in Sydney, Australia. Following the conversion of Arch LMI, Arch Indemnity is the primary provider of direct lenders’ mortgage insurance and reinsurance to the Australian market. Strategy The mortgage insurance market operates on a distinct underwriting cycle, with demand driven mainly by the housing market and general economic conditions. As a result, the creation of the mortgage group provides the company with a more diverse revenue stream. The company’s mortgage group’s strategy is to capitalize on its financial capacity, mortgage insurance technology platform, operational flexibility and experienced management to offer mortgage insurance, reinsurance and other risk-sharing products in the U.S. and around the world. The key elements of the company’s strategy are to maintain a disciplined credit risk philosophy; provide superior and innovative mortgage products and services; and maintain its position as a leading provider of U.S. mortgage insurance business. The company’s mortgage group focuses on the following areas: Direct Mortgage Insurance in the United States: Under their monoline insurance licenses, each of Arch’s eligible mortgage insurers may only offer private mortgage insurance covering first lien, one-to-four family residential mortgages. Nearly all of the company’s mortgage insurance written provides first loss protection on loans originated by mortgage lenders and sold to the GSEs. Each GSE’s Congressional charter generally prohibits it from purchasing a mortgage where the principal balance of the mortgage is in excess of 80% of the value of the property securing the mortgage unless the excess portion of the mortgage is protected against default by lender recourse, participation or by a qualified insurer. As a result, such high loan-to-value mortgages purchased by Fannie Mae or Freddie Mac generally are insured with private mortgage insurance. The company’s primary U.S. mortgage insurance policies predominantly cover individual loans and are effective at the time the loan is originated. The company also may enter into insurance transactions with lenders and investors, under which it insures a portfolio of loans at or after origination. Mortgage insurance and reinsurance in Europe and other countries where the company identifies profitable underwriting opportunities. Reinsurance Arch Re Bermuda provides quota share and excess of loss reinsurance covering U.S. and international mortgages. Other Credit Risk-Sharing Products In addition to providing traditional mortgage insurance and reinsurance, the company offers various credit risk-sharing products to government agencies and mortgage lenders. The GSEs have reduced their exposure to mortgage risk by shifting a portion of it to the private sector, creating opportunities for insurers to assume additional mortgage risk. In 2013, Arch Re Bermuda became the first (re)insurance company to participate in Freddie Mac’s program to transfer certain credit risk in its single-family portfolio to the private sector. Since that time, Arch Re Bermuda and its affiliates have regularly participated in both Fannie Mae and Freddie Mac single family and multifamily risk sharing programs. In 2019, the company established Arch Credit Risk Services (Bermuda) Ltd. (Arch CRS). Arch CRS is licensed by the Bermuda Monetary Authority (BMA) as an insurance agent in Bermuda. Arch CRS offers mortgage credit assessment and underwriting advisory services with respect to participation in GSE credit risk transfer transactions. Sales and Distribution In the U.S., the company employs a sales force to directly sell mortgage insurance products and services to its customers, which include mortgage originators such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks. The company’s largest single mortgage insurance customer in the U.S. (including branches and affiliates) accounted for 7.3% of its gross premiums written for the year ending December 31, 2023. In Europe, Bermuda and Australia, the company’s products and services are distributed on a direct basis and through brokers. Claims Management With respect to its direct mortgage insurance business, the claims process generally begins with notification by the insured or servicer to the company of a default on an insured loan. The insured is generally required to notify the company of a default after the borrower misses two consecutive monthly payments. In the U.S., the company’s master policies generally provide that within 60 days of the perfection of a primary insurance claim, it has the option of: paying the insurance coverage percentage specified in the certificate of insurance multiplied by the loss amount; in the event the property is sold pursuant to an approved prearranged sale, paying the lesser of 100% of the loss amount less the proceeds of sale of the property, or the specified coverage percentage multiplied by the loss amount; or paying 100% of the loss amount in exchange for the insured’s conveyance to the company of good and marketable title to the property, with it then selling the property for the company’s own account. While the company selects the claim settlement option that best mitigates the amount of its claim payment, in the U.S. the company generally pays the coverage percentage multiplied by the loss amount. Other Operations In 2014, the company acquired approximately 11% of Somers Holdings Ltd. Somers Holdings Ltd. is the parent of Somers Re Ltd., a multi-line Bermuda reinsurance company (together with Somers Holdings Ltd., Somers). In 2014, the company and HPS Investment Partners, LLC (HPS) sponsored the formation of Somers. Somers’ strategy is to combine a diversified reinsurance and insurance business with a disciplined investment strategy. In 2017, the company and Kelso sponsored the formation of Premia. Premia’s strategy is to reinsure or acquire companies or reserve portfolios in the non-life property and casualty insurance and reinsurance run-off market. Arch Re Bermuda is providing a quota share reinsurance treaty on certain business written by Premia, and subsidiaries of Arch Capital are providing certain administrative and support services to Premia, in each case pursuant to separate multi-year agreements. Arch has appointed two directors to serve on the seven person board of directors of Premia. Competition In its property casualty insurance and reinsurance businesses, the company competes with insurers and reinsurers that provide specialty property and casualty lines of insurance, including but not limited to Allianz, American Financial Group, Inc., American International Group, Inc., Aviva, AXA XL, AXIS Capital Holdings Limited, Berkshire Hathaway, Inc., Chubb Limited, CNA Financial Corp., Convex Group Limited, Everest Group Ltd., Fairfax Financial Holdings Limited, Hannover Rück SE, The Hartford Financial Services Group, Inc., Liberty Mutual Group, Lloyd’s, Markel Corporation, Munich Re Group, PartnerRe Ltd., RenaissanceRe Holdings Ltd., RLI Corp., SCOR, Sompo International, Swiss Reinsurance Company, Tokio Marine, The Travelers Companies, Inc., W.R. Berkley Corp. and Zurich Insurance Group. In its mortgage business, the company competes with insurers and reinsurers that provide mortgage insurance, including the U.S mortgage insurance subsidiaries of Essent Group Ltd., Enact Holdings Inc., MGIC Investment Corporation, NMI Holdings Inc. and Radian Group Inc. In its non-U.S. mortgage insurance businesses, the company competes with insurance subsidiaries of Helia Group Ltd. and QBE Insurance Group, Ltd. in Australia; in Europe, the company’s competitors on structured capital relief transactions include approximately 5-10 highly rated multi-line (re)insurers in addition to over 30 funded credit investors. Regulation The company’s main Bermuda insurance operating subsidiary, Arch Re Bermuda, is a Class 4 general business insurer and a Class C long-term insurer and is subject to the Insurance Act 1978 of Bermuda and related regulations, as amended (Insurance Act). Arch Insurance Canada and Arch Re Canada are subject to federal, as well as provincial and territorial, regulation in Canada in the provinces and territories in which they underwrite insurance/reinsurance. The Office of the Superintendent of Financial Institutions (OSFI) is the federal regulatory body that, under the Insurance Companies Act (Canada), prudentially regulates federal Canadian and non-Canadian insurance and reinsurance companies operating in Canada. Arch Insurance Canada is licensed to carry on insurance business by OSFI and in each province and territory. Arch Re Canada is licensed to carry on reinsurance business by OSFI and in the provinces of Ontario and Quebec. The BMA acts as group supervisor of the company’s group of insurance and reinsurance companies (Group) and has designated Arch Re Bermuda as the designated insurer (Designated Insurer). Arch Re Bermuda is also subject to an enhanced capital requirement (ECR), which is established by reference to either the Bermuda Solvency Capital Requirement model (BSCR) or an approved internal capital model. OSFI has implemented a risk-based methodology for assessing insurance/reinsurance companies operating in Canada known as its Supervisory Framework. In applying the Supervisory Framework, OSFI considers the inherent risks of the business and the quality of risk management for each significant activity of each operating entity. Under the Insurance Companies Act (Canada), approval of the Minister of Finance (Canada) is required in connection with certain acquisitions of shares of, or control of, Canadian insurance companies such as Arch Insurance Canada, and notice to and/or approval of OSFI is required in connection with the payment of dividends by or redemption of shares by Canadian insurance companies, such as Arch Insurance Canada. AMAL manages Arch Syndicate 2012 and Arch Syndicate 1955 pursuant to its authorizations by the U.K. regulators and Lloyd’s. All U.K. companies are also subject to a range of statutory provisions, including the laws and regulations of the Companies Act 2006 (as amended) (the U.K. Companies Act). The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) regulate insurance and reinsurance companies and the FCA regulates firms carrying on insurance distribution activities operating in the U.K. under the Financial Services and Markets Act 2000 (theFSMA). In May 2004, Arch Insurance (U.K.) was granted the relevant permissions for the classes of insurance business which it underwrites in the U.K. AMAL manages Arch Syndicate 2012 and Arch Syndicate 1955 pursuant to its authorizations by the U.K. regulators and Lloyd’s. All U.K. companies are also subject to a range of statutory provisions, including the laws and regulations of the Companies Act 2006 (as amended) (the U.K. Companies Act). The operations of AMAL (as managing agent of Arch Syndicate 2012 and Arch Syndicate 1955) and each syndicate’s respective corporate members, are subject to the byelaws and regulations made by (or on behalf of) the Council of Lloyd’s, and requirements made under those byelaws. The Council of Lloyd’s, established in 1982 by Lloyd’s Act 1982, has overall responsibility and control of Lloyd’s. Those byelaws, regulations and requirements provide a framework for the regulation of the Lloyd’s market, including specifying conditions in relation to underwriting and claims operations of Lloyd’s participants. The Council of Lloyd’s has discretionary powers to regulate corporate members’ underwriting at Lloyd’s. Lloyd’s is also subject to the provisions of the FSMA. Lloyd's is authorized by the PRA and regulated by the PRA and FCA. Those entities acting within the Lloyd’s market are required to comply with the requirements of the FSMA and provisions of the PRA’s or FCA's rules, although the PRA has delegated certain of its powers, including some of those relating to prudential requirements, to Lloyd’s. Each corporate member of Lloyd’s is required to contribute a percentage of the member’s premium income for each year of account to the Lloyd’s central fund. The company’s three Irish operating subsidiaries are Arch Re Europe, Arch Insurance (EU) and Arch Underwriters Europe Limited (Arch Underwriters Europe). Arch Re Europe was licensed and authorized by the CBI as a non-life reinsurer in October 2008 and as a life reinsurer in November 2009. Arch Insurance (EU) was licensed and authorized by the CBI as a non-life insurer in 2011. As part of its Brexit plan, Arch Insurance (EU) received approval from the CBI to expand the nature of its business in 2019 and commenced writing expanded insurance lines in the EEA in 2020 with the Part VII Transfer completed at the end of December 2020. Arch Underwriters Europe was registered by the CBI as an insurance and reinsurance intermediary in July 2014. Arch Re Europe, Arch Insurance (EU) and Arch Underwriters Europe are subject to the supervision of the CBI and must comply with Irish insurance acts and regulations as well as with directions and guidance issued by the CBI. Arch Re Europe and Arch Insurance (EU) are required to comply with Solvency II requirements. As Arch Re Europe, Arch Insurance (EU) and Arch Underwriters Europe are authorized by the CBI in Ireland, a Member State of the EU, those authorizations are recognized throughout the EEA. Arch Insurance (EU) has branches in Italy and the U.K. Arch Re Underwriting ApS in Denmark (Arch Re Denmark) is an underwriting agency underwriting accident and health and other reinsurance business for Arch Re Europe. Arch Re Europe also has branches in the U.K. and Switzerland (Arch Re Europe Swiss Branch). Arch Insurance (U.K.) and AMAL are subject to periodic assessment by the PRA along with all regulated firms. Arch Insurance (U.K.) and AMAL are subject to regulation by both the PRA and FCA. Castel is authorized and regulated by the FCA and is subject to periodic assessment and review by the FCA. The company’s group also conducts property and casualty insurance business in Australia through Lloyd’s. This insurance business is managed by and distributed through local coverholders and is subject to Lloyd’s Supervision. In addition, the business is subject to local Australian prudential regulatory oversight by APRA, and additional separate financial services market conduct regulation by ASIC. The CBI regulates insurance and reinsurance companies and intermediaries authorized in Ireland. The company’s three Irish operating subsidiaries are Arch Re Europe, Arch Insurance (EU) and Arch Underwriters Europe Limited (Arch Underwriters Europe). Arch Re Europe was licensed and authorized by the CBI as a non-life reinsurer in October 2008 and as a life reinsurer in November 2009. Arch Insurance (EU) was licensed and authorized by the CBI as a non-life insurer in December 2011. As part of the company’s Brexit plan, Arch Insurance (EU) received approval from the CBI to expand the nature of its business in 2019 and commenced writing expanded insurance lines in the EEA in 2020 with the Part VII Transfer completed at the end of December 2020. Arch Underwriters Europe was registered by the CBI as an insurance and reinsurance intermediary in July 2014. The company’s Irish subsidiaries are also subject to the general body of Irish company laws and regulations, including the provisions of the Companies Act 2014. APRA is an independent statutory authority responsible for prudential supervision of institutions across banking, insurance and superannuation and promotes financial stability in Australia. Arch Indemnity has been authorized to conduct monoline lenders’ mortgage insurance business in Australia since 2002 and was acquired by Arch Capital on August 30, 2021. The company’s U.S. mortgage insurance subsidiaries are subject to regulation by their domiciliary and primary regulators, the Wisconsin Office of the Commissioner of Insurance (Wisconsin OCI) for AMIC and AMG, the North Carolina Department of Insurance (NC DOI) for UGRIC, and by state insurance departments in each state in which they are licensed. History Arch Capital Group Ltd. was founded in 1995.