Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) Financial Statements, Financial Statement Schedules and Exhibits.
1. Financial Statements
			Included in Part II – see Item 8 of this report.
2. Financial Statement Schedules
						Page No.
II. Condensed Financial Information of Registrant
			As of December 31, 2025 and 2024, and for the years ended December 31, 2025, 2024 and 2023			184
III. Supplementary Insurance Information
			For the years ended December 31, 2025, 2024 and 2023			187
IV. Reinsurance
			For the years ended December 31, 2025, 2024 and 2023			188
VI. Supplementary Information for Property and Casualty Insurance Underwriters
			For the years ended December 31, 2025, 2024 and 2023			189

Schedules other than those listed above are omitted for the reason that they are not applicable or the information is provided in Item 8 of this report.

ARCH CAPITAL			180			2025 FORM 10-K

3. Exhibits

												Incorporated by Reference
Exhibit Number						Exhibit Description						Form						Original Number						Date Filed						Filed Herewith
3.1						Memorandum of Association of ACGL						S-4						3.1						September 8, 2000
3.2						Bye-Laws of ACGL						10-Q						3						August 5, 2016
3.3						ACGL Certificate of Deposit of Memorandum of Increase of Share Capital						10-K						3.3						February 28, 2011
4.1						Indenture, dated as of May 4, 2004, between ACGL, as issuer, and The Bank of New York Mellon, as successor trustee to JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank) (“JPMCB”), as trustee						8-K						99.2						May 7, 2004
4.2						First Supplemental Indenture, dated as of May 4, 2004, between ACGL, as issuer, and JPMCB, as trustee						8-K						99.3						May 7, 2004
4.3						Second Supplemental Indenture, dated as of June 30, 2020, by and between Arch Capital Group Ltd. and The Bank of New York Mellon (including the form of Global Notes for the Notes).						8-K						4.2						June 30, 2020
4.4.1						Indenture, dated as of December 13, 2013, among Arch Capital Group (U.S.) Inc. (“Arch U.S.”), as issuer, ACGL, as guarantor, and The Bank of New York Mellon (“BNYM”), as trustee						8-K						4.1						December 13, 2013
4.4.2						First Supplemental Indenture, dated as of December 13, 2013, among Arch U.S., as issuer, ACGL, as guarantor, and BNYM, as trustee						8-K						4.2						December 13, 2013
4.4.3						Second Supplemental Indenture, dated as of May 10, 2018, among Arch Capital Finance LLC, as issuer, ACGL, as guarantor, and BNYM, as trustee						8-K						4.1						May 15, 2018
4.5.1						Deposit Agreement, dated August 17, 2017, between ACGL, as issuer, and AST, as depositary, registrar and transfer agent and as dividend disbursing agent and redemption agent, and the holders from time to time of the depositary receipts						8-K						4.3						August 17, 2017
4.5.2						Deposit Agreement, dated June 11, 2021, between ACGL, as issuer, and AST, as depositary, registrar and transfer agent and as dividend disbursing agent and redemption agent, and the holders from time to time of the depositary receipts						8-K						4.3						June 11, 2021
4.6.1						Form of Depositary Receipt, dated August 17, 2017						8-K						4.4						August 17, 2017
4.6.2						Form of Depositary Receipt, dated June 11, 2021						8-K						4.4						June 11, 2021
4.7.1						Indenture, dated as of December 8, 2016, among Arch Capital Finance LLC, as issuer, ACGL, as guarantor, and BNYM, as trustee						8-K						4.1						December 9, 2016
4.7.2						First Supplemental Indenture, dated as of December 8, 2016, among Arch Capital Finance LLC, as issuer, ACGL, as guarantor, and BNYM, as trustee						8-K						4.2						December 9, 2016
4.8.1						Certificate of Designations of Series F Non-Cumulative Preferred Shares						8-K						4.1						August 17, 2017
4.8.2						Certificate of Designations of Series G Non-Cumulative Preferred Shares						8-K						4.1						June 11, 2021
4.8.3						Specimen Common Share Certificate						10-K						4.1						April 2, 2001
4.8.4						Specimen Series F Non-Cumulative Preferred Share Certificate						8-K						4.2						August 17, 2017
4.8.5						Specimen Series G Non-Cumulative Preferred Share Certificate						8-K						4.2						June 11, 2021
4.9						Description of Securities						10-K						4.8						February 25, 2022
10.1.1						Third Amended and Restated ACGL Incentive Compensation Plan†						10-Q						10.7						August 5, 2016
10.1.2						First Amendment to Third Amended and Restated ACGL Incentive Compensation Plan†						10-Q						10.1						May 5, 2017
10.1.3						Second Amendment to Third Amended and Restated ACGL Incentive Compensation Plan†						10-K						10.2.3						February 25, 2022
10.1.4						Third Amendment to Third Amended and Restated ACGL Incentive Compensation Plan†						10-Q						10.1						May 4, 2023
10.2.1						ACGL 2018 Long Term Incentive and Share Award Plan†						DEF 14A												March 28, 2018
10.2.2						ACGL Amended and Restated 2018 Long Term Incentive and Share Award Plan†						10-Q						10.2						August 5, 2025
10.2.3						ACGL Amended and Restated 2007 Employee Share Purchase Plan†						DEF 14A												March 23, 2023
10.2.4						Second Amended and Restated ACGL 2007 Employee Share Purchase Plan†						10-Q						10.4						August 5, 2025
10.2.5						ACGL 2022 Long Term Incentive and Share Award Plan†						8-K						10.1						May 4, 2022
10.2.6						ACGL Amended and Restated 2022 Long Term Incentive and Share Award Plan†						10-Q						10.3						August 5, 2025
10.3.1						Form of Restricted Share Agreement for Named Executive Officers and certain Executive Officers of ACGL and subsidiaries†						10-Q						10.3						August 8, 2018
10.3.2						Form of Restricted Share Agreement between ACGL and each of the Non-Employee Directors of ACGL†						10-Q						10.1						August 5, 2025

ARCH CAPITAL			181			2025 FORM 10-K

10.3.3						Form of Performance Restricted Share Agreement for Named Executive Officers and certain Executive Officers of ACGL and subsidiaries†						10-Q						10.5						August 8, 2018
10.3.5						Form of Non-Qualified Stock Option Agreement, dated as of May 13, 2016, between ACGL and each of Nicolas Papadopoulo, Maamoun Rajeh and Louis T. Petrillo†						10-Q						10.3						August 5, 2016
10.3.6						Form of Non-Qualified Stock Option Agreement, dated as of May 8, 2017, between ACGL and each of Nicolas Papadopoulo, Maamoun Rajeh and Louis T. Petrillo†						10-Q						10.5						August 4, 2017
10.3.7						Non-Qualified Stock Option Agreement, dated as of September 19, 2017, between ACGL and Maamoun Rajeh†						10-K						10.5.6						February 28, 2018
10.3.8						Non-Qualified Stock Option Agreement, dated as of September 19, 2017, between ACGL and Nicolas Papadopoulo†						10-K						10.5.7						February 28, 2018
10.3.9						Form of Non-Qualified Stock Option Agreement for Named Executive Officers and certain Executive Officers of ACGL and subsidiaries†						10-Q						10.4						August 8, 2018
10.4.1						Employment Agreement, dated as of October 27, 2008, between ACGL and John D. Vollaro†						8-K						10.1						October 28, 2008
10.4.2						Amendment to Employment Agreement, dated February 27, 2015, between ACGL and John D. Vollaro†						10-Q						10.1						May 8, 2015
10.4.3						Second Amendment to Employment Agreement, dated as of January 1, 2018, between ACGL and John D. Vollaro†						10-Q						10.1						May 9, 2018
10.5.1						Employment Agreement, dated as of September 19, 2017 between ACGL and Maamoun Rajeh†						10-Q						10.26						November 3, 2017
10.5.2						Amendment to Employment Agreement, dated as of November 7, 2024, between Arch Capital Group Ltd. and Maamoun Rajeh †						8-K						10.2						November 8, 2024
10.6.1						Employment Agreement, dated as of September 19, 2017 between ACGL and Nicholas Papadopoulo†						10-Q						10.27						November 3, 2017
10.6.2						Amendment to Employment Agreement, dated as of October 13, 2024, between ACGL and Nicolas Papadopoulo †						10-Q						10.2						November 7, 2024
10.7						Employment Agreement, dated as of May 25, 2018, between ACGL and François Morin†						8-K/A						10.1						July 26, 2018
10.8						Employment Agreement, dated as of November 13, 2018, between Arch Capital Services Inc. and Louis Petrillo†						10-K						10.16						February 28, 2019
10.9.1						Employment Agreement dated as of October 1,2019 between Arch Capital Group Ltd. and David Gansberg †						10-K						10.16						February 28, 2020
10.9.2						Amendment to Employment Agreement, dated as of November 7, 2024, between Arch U.S. MI Services Inc. and David Gansberg †						8-K						10.1						November 8, 2024
10.9.3						Second Amendment to Employment Agreement, dated as of December 11, 2024, between Arch Capital Group (U.S.) Inc. and David Gansberg†						10-K						10.24						February 27, 2025
10.10						Employment Agreement dated as of May 7, 2021 between Arch Capital Group Ltd. and Christine Todd †						10-Q						10.1						August 5, 2021
10.11						Arch U.S. Executive Supplemental Non-Qualified Savings and Retirement Plan†						10-K						10.24						March 2, 2009
10.13.1						Fourth Amended and Restated Credit Agreement, dated as of August 23, 2023, by and among Arch Capital Group Ltd., certain of its subsidiaries, Bank of America, N.A., as Administrative Agent, and the lenders party thereto(1)						10-Q						10.1						November 9, 2023
10.13.2						Consent and First Amendment to Fourth Amended and Restated Credit Agreement, dated as of August 1, 2025						10-Q						10.1						November 6, 2025
10.14						Letter of Credit Facility Agreement, dated as of September 27, 2023, by and between Arch Reinsurance Ltd., as the borrower and Lloyds Bank Corporate Markets plc, as the L/C Issuer						8-K						10.1						October 2, 2023
10.15.1						Amendment No. 3 and Joinder to Letter of Credit Facility Agreement, dated as of October 25, 2023, by and between Arch Reinsurance Ltd., as the borrower and Lloyds Bank Corporate Markets plc, as the Administrative Agent and L/C Agent.						8-K						10.1						October 30, 2023
10.15.2						Amendment No. 4 to Letter of Credit Facility Agreement dated as of October 30, 2024 by and between Arch Reinsurance Ltd., as the borrower and Lloyds Bank.						8-K						10.1						November 4, 2024
10.15.3						Amendment No. 5 to Letter of Credit Facility Agreement dated as of October 29, 2025 by and between Arch Reinsurance Ltd., as the borrower and Lloyds Bank Corporate Markets plc as Administrative Agent and L/C Agent						8-K						10.1						November 3, 2025
10.16.1						Master Transaction Agreement, dated as of April 5, 2024, by and between Allianz Global Risks US Insurance Company and Arch Capital Group Ltd.						8-K						10.1						April 5, 2024
10.16.2						Amendment No. 1 to Master Transaction Agreement, dated as of August 1, 2024, by and among Arch Capital Group Ltd., Allianz Global Risks US Insurance.						8-K						2.2						August 1, 2024

ARCH CAPITAL			182			2025 FORM 10-K

10.17						Form of Non-Qualified Stock Option Outperformance Award Agreement for Named Executive Officers and certain Executive Officers of ACGL and subsidiaries†						10-K						10.21						February 27, 2025
10.18						Form of Restricted Share Outperformance Award Agreement between ACGL and each of Nicolas Papadopoulo, Maamoun Rajeh and David Gansberg†						10-K						10.22						February 27, 2025
10.19						Form of Restricted Share Outperformance Award Agreement between ACGL and each of François Morin, Christine Todd and certain other Executive Officers of ACGL†						10-K						10.23						February 27, 2025
19.1						Policy Statement on Insider Trading and Confidential Information						10-K						19.1						February 27, 2025
21						Subsidiaries of Registrant																								X
23						Consent of PricewaterhouseCoopers LLP																								X
24						Power of Attorney																								X
31.1						Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002																								X
31.2						Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002																								X
32.1						Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002																								X*
32.2						Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002																								X*
97.1						Policy relating to recovery of erroneously awarded compensation, as required by Nasdaq listing standards adopted pursuant to 17 CFR 240.10D.						10-K						97.1						February 23, 2024
101						The following financial information from ACGL’s Annual Report on Form 10-K for the year ended December 31, 2025 formatted in Inline XBRL: (i) Consolidated Balance Sheets at December 31, 2025 and 2024; (ii) Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023; (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023; (iv) Consolidated Statements of Changes in Shareholders’ Equity for the years ended December 31, 2025, 2024 and 2023; (v) Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023; and (vi) Notes to Consolidated Financial Statements																								X
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

† Management contract or compensatory plan or arrangement.

• Furnished herewith.

ARCH CAPITAL			183			2025 FORM 10-K

SCHEDULE II

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(U.S. dollars in millions)

Balance Sheet

(Parent Company Only)

			December 31,
			2025						2024
Assets
Total investments			$	40					$	43
Cash			13						13
Investments in subsidiaries			25,275						22,035
Investment in operating affiliates			3						3
Due from subsidiaries and affiliates			16						6
Other assets			194						66
Total assets			$	25,541					$	22,166
Liabilities
Senior notes			$	1,288					$	1,287
Due to subsidiaries and affiliates			6						11
Other liabilities			41						48
Total liabilities			1,335						1,346
Shareholders' Equity
Non-cumulative preferred shares			830						830
Common shares ($0.0011 par, shares issued: 599.8 and 595.6)			1						1
Additional paid-in capital			2,735						2,510
Retained earnings			27,045						22,686
Accumulated other comprehensive income (loss), net of deferred income tax			5						(720)
Common shares held in treasury, at cost (shares: 240.8 and 219.2)			(6,410)						(4,487)
Total shareholders' equity			$	24,206					$	20,820
Total liabilities and shareholders' equity			$	25,541					$	22,166

The financial information for the parent company (Arch Capital Group Ltd.) should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

ARCH CAPITAL			184			2025 FORM 10-K

SCHEDULE II

(continued)

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(U.S. dollars in millions)

Statement of Income

(Parent Company Only)

			Year Ended
			December 31,
			2025						2024						2023
Revenues
Net investment income			$	3					$	5					$	2
Net realized gains (losses)			(10)						(4)						—
Total revenues			(7)						1						2
Expenses
Corporate expenses			57						116						93
Interest expense			59						59						59
Total expenses			116						175						152
Income (loss) before income taxes and income (loss) from operating affiliates			(123)						(174)						(150)
Income tax (expense) benefit			58						—						41
Income (loss) from operating affiliates			(1)						(1)						(1)
Income (loss) before equity in net income of subsidiaries			(66)						(175)						(110)
Equity in net income of subsidiaries			4,465						4,487						4,553
Net income available to Arch			4,399						4,312						4,443
Preferred dividends			(40)						(40)						(40)
Net income available to Arch common shareholders			$	4,359					$	4,272					$	4,403

The financial information for the parent company (Arch Capital Group Ltd.) should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

ARCH CAPITAL			185			2025 FORM 10-K

SCHEDULE II

(continued)

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(U.S. dollars in millions)

Statement of Cash Flows

(Parent Company Only)

			Year Ended
			December 31,
			2025						2024						2023
Operating Activities:
Net Cash Provided By Operating Activities			$	1,873					$	2,398					$	46
Investing Activities:
Net (purchases) sales of short-term investments			3						(26)						(8)
Acquisitions, net of cash			—						(450)						—
Other			10						5						1
Net Cash Used For Investing Activities			13						(471)						(7)
Financing Activities:
Purchases of common shares under share repurchase program			(1,889)						(24)						—
Proceeds from common shares issued, net			50						7						(2)
Common dividends paid			(7)						(1,866)						—
Preferred dividends paid			(40)						(40)						(40)
Net Cash Used For Financing Activities			(1,886)						(1,923)						(42)
Increase (decrease) in cash and restricted cash			—						4						(3)
Cash and restricted cash, beginning of year			13						9						12
Cash and restricted cash, end of period			$	13					$	13					$	9

The financial information for the parent company (Arch Capital Group Ltd.) should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

ARCH CAPITAL			186			2025 FORM 10-K

SCHEDULE III

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

SUPPLEMENTARY INSURANCE INFORMATION

(U.S. dollars in millions)

			Deferred Acquisition Costs			Reserves for Losses and Loss Adjustment Expenses			Unearned Premiums			Net Premiums Earned			Net Investment Income (1)			Net Losses and Loss Adjustment Expenses Incurred			Amortization of Deferred Acquisition Costs			Other Operating Expenses (2)			Net Premiums Written
December 31, 2025
Insurance			$788			$17,527			$5,199			$7,771			NM			$4,764			$1,496			$1,172			$7,798
Reinsurance			872			15,523			4,545			8,122			NM			4,610			1,644			469			7,618
Mortgage			57			497			356			1,172			NM			(4)			13			185			1,060
Total			$1,717			$33,547			$10,100			$17,065			NM			$9,370			$3,153			$1,826			$16,476
December 31, 2024
Insurance			$696			$16,277			$4,857			$6,627			NM			$4,070			$1,217			$995			$6,874
Reinsurance			981			12,567			4,891			7,242			NM			4,327			1,432			270			7,746
Mortgage			57			525			470			1,231			NM			(55)			2			207			1,112
Total			$1,734			$29,369			$10,218			$15,100			NM			$8,342			$2,651			$1,472			$15,732
December 31, 2023
Insurance			$566			$12,250			$3,917			$5,446			NM			$3,122			$1,055			$819			$5,862
Reinsurance			901			9,924			4,254			5,836			NM			3,227			1,240			288			6,554
Mortgage			64			578			637			1,158			NM			(103)			17			194			1,052
Total			$1,531			$22,752			$8,808			$12,440			NM			$6,246			$2,312			$1,301			$13,468

(1) The Company does not manage its assets by segment and, accordingly, net investment income is not allocated to each underwriting segment.

(2) Certain other operating expenses relate to the Company’s corporate items. Such amounts are not reflected in the table above. See note 4, “Segment Information,” to our consolidated financial statements in Item 8 for information.

ARCH CAPITAL			187			2025 FORM 10-K

SCHEDULE IV

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

REINSURANCE

(U.S. dollars in millions)

			Gross Amount						Ceded to Other Companies (1)						Assumed From Other Companies (1)						Net Amount						Percentage of Amount Assumed to Net
Year Ended December 31, 2025
Premiums Written:
Insurance			$	8,268					$	(2,637)					$	2,167					$	7,798					27.8		%
Reinsurance			895						(3,531)						10,254						7,618						134.6		%
Mortgage			1,087						(245)						218						1,060						20.6		%
Total			$	10,250					$	(6,402)					$	12,628					$	16,476					76.6		%
Year Ended December 31, 2024
Premiums Written:
Insurance			$	7,970					$	(2,179)					$	1,083					$	6,874					15.8		%
Reinsurance			956						(3,366)						10,156						7,746						131.1		%
Mortgage			1,130						(239)						221						1,112						19.9		%
Total			$	10,056					$	(5,779)					$	11,455					$	15,732					72.8		%
Year Ended December 31, 2023
Premiums Written:
Insurance			$	7,865					$	(2,049)					$	46					$	5,862					0.8		%
Reinsurance			626						(2,559)						8,487						6,554						129.5		%
Mortgage			1,161						(335)						226						1,052						21.5		%
Total			$	9,652					$	(4,935)					$	8,751					$	13,468					65.0		%

(1) Certain amounts included in the gross premiums written of each segment are related to intersegment transactions and are included in the gross premiums written of each segment. Accordingly, the sum of gross premiums written for each segment does not agree to the total gross premiums written as shown in the table above due to the elimination of intersegment transactions in the total.

ARCH CAPITAL			188			2025 FORM 10-K

SCHEDULE VI

ARCH CAPITAL GROUP LTD. AND SUBSIDIARIES

SUPPLEMENTARY INFORMATION FOR PROPERTY AND CASUALTY INSURANCE UNDERWRITERS

(U.S. dollars in millions)

Column A			Column B			Column C			Column D			Column E			Column F			Column G			Column H						Column I			Column J			Column K
Affiliation with Registrant			Deferred Acquisition Costs			Reserves for Losses and Loss Adjustment Expenses			Discount, if any, deducted in Column C			Unearned Premiums			Net Premiums Earned			Net Investment Income			Net Losses and Loss Adjustment Expenses Incurred Related to						Amortization of Deferred Acquisition Costs			Net Paid Losses and Loss Adjustment Expenses			Net Premiums Written
(a) Current Year			(b) Prior Years
Consolidated Subsidiaries
2025			$	1,717		$	33,547		$	78		$	10,100		$	17,065		$	1,625		$	9,970		$	(600)		$	3,153		$	7,025		$	16,476
2024			1,734			29,369			68			10,218			15,100			1,495			8,849			(507)			2,651			5,073			15,732
2023			1,531			22,752			66			8,808			12,440			1,023			6,784			(538)			2,312			4,093			13,468