Arch Capital ups L/C facility to $530M; extends availability to May 2024

On October 25, 2023, Arch Reinsurance Ltd. (“ArchRe”), a wholly-owned subsidiary of Arch Capital Group, Ltd. (“Arch”), entered into Amendment No. 3 and Joinder to Letter of Credit Facility Agreement ( “Amendment No. 3”), as the borrower with Lloyds Bank Corporate Markets plc (“Lloyds”), as Administrative Agent and L/C Agent, which amends the Letter of Credit Facility Agreement, dated as of November 3, 2020, as amended by Amendment No. 1 to Letter of Credit Facility Agreement dated as of October 29, 2021 and as further amended by Amendment No. 2 and Joinder to Letter of Credit Facility Agreement dated as of October 27, 2022 (the “ Existing L/C Agreement”). The Existing L/C Agreement, as amended by Amendment No. 3 (the “Amended L/C Agreement”), provides for a $530 million facility for letters of credit in respect of Funds at Lloyds (the “FAL L/C Facility”).