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HomeNewsBusiness WireArch Re Announces Intent to Acquire Majority Stake in Precision Marketing Asia...

Arch Re Announces Intent to Acquire Majority Stake in Precision Marketing Asia Pacific

Acquisition would increase distribution in the Asia-Pacific market

PEMBROKE, Bermuda–(BUSINESS WIRE)–Arch Reinsurance (Arch Re), a wholly owned subsidiary of Arch Capital Group Ltd., has announced that it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific (PMAP), subject to regulatory and other approvals. PMAP is an Australian company that provides data-driven marketing solutions to banks, insurance companies, retailers and health care organizations across the Asia-Pacific region. This transaction provides both Arch Re and PMAP increased distribution scale for life and accident and health (A&H) products in the Asian market through a combined value proposition.

Maamoun Rajeh, Chairman and Chief Executive Officer of Arch Worldwide Reinsurance Group, said, “Acquiring Precision Marketing Asia Pacific aligns with our strategy of selectively pursuing diverse specialty markets where we can apply our knowledge and expertise. Precision Marketing is well known for its highly analytical approach to multichannel distribution and product design, and I believe that Arch Re will benefit from its platform as we look to increase our life and A&H presence in Japan and other Asia-Pacific markets.”

Keith Lowry, CEO of Precision Marketing Asia Pacific, added, “After many years operating as a private enterprise, the Board of Precision Marketing recognise the importance of increased growth capital to accelerate scale in the business and deliver greater value to our distribution partners in Japan. This investment by Arch Capital Group Ltd. will bring necessary financial resources to take the business to the next level.”

About Arch Worldwide Reinsurance Group

Arch Worldwide Reinsurance Group, a part of Arch Capital Group Ltd., provides reinsurance to its clients around the globe. With offices in North America, Bermuda, Europe and Australia, Arch Reinsurance offers specialty risk solutions through treaty and facultative property and casualty reinsurance with a disciplined underwriting approach.

About Arch Capital Group Ltd.

Arch Capital Group Ltd., a Bermuda-based company with approximately $13.23 billion in capital at Dec. 31, 2019, 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.

Contacts

Arch Capital Services
Greg Hare

336 333 0416

ghare@archcapservices.com

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