Arch Capital Group Ltd. (ACGL) Earnings Call Transcript & Summary

Good day, and welcome to the Arch Capital Group Ltd. Annual General Meeting. I would now like to turn the conference over to John Pasquesi. Please go ahead.

Thank you. Good morning. I'm John Pasquesi, Chairman of Arch Capital Group. Welcome to our Annual General Meeting of Shareholders. As a result of the COVID-19 pandemic, we are hosting today's meeting virtually through this online platform. It goes without saying that we've never experienced anything like this. Over a few short months, the virus has taken an incredible human and economic toll. Given the challenges we're all facing, I want to extend a sincere thank you on behalf of myself, the Board and Arch's 4,300-plus employees, to all those helping to combat this pandemic from those in the health care field on the front line to first responders working to ensure our safety and to the essential employees around the world, allowing the rest of us to stay home, we very much appreciate your commitment and sacrifice. I also want to recognize our employees who have transitioned to this new working environment without a hitch and have continued to serve our global client base without interruption. Thank you also to our shareholders for continuing to support us and to support Arch's commitment to help our clients, employees, investors and communities achieve their greatest potential. We hope that you remain safe and healthy. Now back to meeting logistics, please remember that you may vote your shares online at any time during this meeting prior to the closing of the polls. Our independent auditors, PricewaterhouseCoopers, are participating in today's meeting and are represented by Steve Brown and Jimmy Martin. Anyone requiring technical assistance should follow the instructions provided on the website. Louis Petrillo will be the secretary for this meeting and will now make his report. Louis?

Thank you, John. Thank you. Broadridge, the company's proxy agent, has been appointed as the inspector of elections and has signed the oath of office. The inspector has advised me that a quorum is present at the meeting. Any shareholder who wish to vote should do so now via the online voting function. Shareholders who have already turned in their proxies do not need to vote again unless they wish to change their votes.

I will now present each of the 4 proposals, which call for a vote by shareholders. The first item is the election of Class 1 directors. The Board's nominees are Louis Paglia; Brian Posner; and John Vollaro, who will hold office until the 2023 Annual Meeting. The second item is an advisory vote on executive compensation. The third item is the approval of the selection of PricewaterhouseCoopers as the company's independent auditor for 2020. The fourth item is the election of the Board's nominees for directors of the company's non-U.S. subsidiaries, as outlined in the proxy statement. We will now close the polls on each of the proposals. Louis, please report on the voting results.

The inspector has reported to me that based on the preliminary count of proxies, all of the proposals have been approved by shareholders in accordance with the Board's recommendations with at least approximately 95% voting support for all proposals.

Thank you, Louis. We have not received any questions from shareholders in connection with the meeting, and therefore, this concludes the meeting. Thank you all for attending.

The conference has now concluded. Thank you for attending today's presentation, and you may now disconnect.