Arch Capital Group Ltd. (Arch Capital or ACGL), a publicly listed Bermuda exempted company, writes insurance, reinsurance and mortgage insurance on a worldwide basis with a focus on specialty lines. The combination of our underwriting platform, our experienced management team and our strong capital base have enabled us to establish a prominent presence in the global insurance and reinsurance markets. Our common stock (Nasdaq: ACGL) is included in the S&P 500 index.

We seek to increase shareholder value through three main strategic principles:

• Selectively pursue diverse specialty markets where we can apply our knowledge and expertise;
• Maintain flexibility and responsiveness to allow us to take advantage of market opportunities when they arise; and
• Maintain a disciplined underwriting approach to enable us to select risks and price them appropriately in all phases of the insurance cycle.

In March 2014, Watford Holdings Ltd. (Watford) raised approximately $1.1 billion of capital consisting of $907.3 million in common equity and $226.6 million in preference equity. Arch invested $100.0 million and owns 2,500,000 common shares. As of March 31, 2020, Arch owns approximately 13% of Watford's outstanding common equity. Arch also holds approximately 142,000 shares of Watford's cumulative redeemable preference shares. Arch also purchased $35 million principal amount of Watford's 6.500% senior notes due 2029. The notes are senior unsecured obligations of Watford and will mature on July 2, 2029. Under applicable accounting rules, 100% of Watford's results are included in Arch's consolidated financial statements. Watford's common shares are listed on the Nasdaq Select Global Market under the ticker symbol "WTRE" and its SEC filings and other financial information can be found at WatfordRe.