Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

HOLDERS

As of February 20, 2019, and based on information provided to us by our transfer agent and proxy solicitor, there were 860 holders of record of our common shares (NASDAQ: ACGL) and approximately 43,000 beneficial holders of our common shares.

ISSUER PURCHASES OF EQUITY SECURITIES

The following table summarizes our purchases of common shares for the 2018 fourth quarter:



	Issuer Purchases of Common Shares
Period	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet be Purchased Under the Plan or Programs (2)
10/1/2018-10/31/2018	559,024	$	26.69	549,043	$	247,339
11/1/2018-11/30/2018	1,042,896	$	27.99	922,344	$	221,529
12/1/2018-12/31/2018	2,156,733	$	26.85	2,152,147	$	163,739
Total	3,758,653	$	27.14	3,623,534	$	163,739


(1)	Includes repurchases by Arch Capital of shares, from time to time, from employees in order to facilitate the payment of withholding taxes on restricted shares granted and the exercise of stock appreciation rights. We purchased these shares at their fair market value, as determined by reference to the closing price of our common shares on the day the restricted shares vested or the stock appreciation rights were exercised.

(1)

Includes repurchases by Arch Capital of shares, from time to time, from employees in order to facilitate the payment of withholding taxes on restricted shares granted and the exercise of stock appreciation rights. We purchased these shares at their fair market value, as determined by reference to the closing price of our common shares on the day the restricted shares vested or the stock appreciation rights were exercised.


(2)	Remaining amount available at December 31, 2018 under Arch Capital’s share repurchase authorization, under which repurchases may be effected from time to time in open market or privately negotiated transactions through December 31, 2019.



ARCH CAPITAL	52	2018 FORM 10-K

PERFORMANCE GRAPH

The following graph compares the cumulative total shareholder return on our common shares for each of the last five years through December 31, 2018 to the cumulative total return, assuming reinvestment of dividends, of (1) S&P 500 Composite Stock Index (“S&P 500 Index”) and (2) the S&P 500 Property & Casualty Insurance Index. The share price performance presented below is not necessarily indicative of future results.

CUMULATIVE TOTAL SHAREHOLDER RETURN (1)(2)(3)



		Base Period
	Company Name/Index	12/31/13		12/31/14		12/31/15		12/31/16		12/31/17		12/31/18
l	Arch Capital Group Ltd.		$100.00		$99.01		$116.85		$144.56		$152.07		$134.29
n	S&P 500 Index		$100.00		$113.69		$115.26		$129.05		$157.22		$150.33
p	S&P 500 Property & Casualty Insurance Index		$100.00		$115.74		$126.77		$146.68		$179.52		$171.10


(1)	Stock price appreciation plus dividends.


(2)	The above graph assumes that the value of the investment was $100 on December 31, 2013.


(3)	This graph is not “soliciting material,” is not deemed filed with the SEC and is not to be incorporated by reference in any filing by us under the Securities Act of 1933 or the Securities and Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.



ARCH CAPITAL	53	2018 FORM 10-K

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