ARCH CAPITAL GROUP LTD. (a Bermuda limited company) 8,000,000 Shares 8.00% Non- Cumulative Preferred Shares, Series A PURCHASE AGREEMENT Dated: as of January 25, 2006Purchase Agreement • January 27th, 2006 • Arch Capital Group Ltd. • Fire, marine & casualty insurance • New York
Arch Capital Group Ltd., a Bermuda company (the “Company”), confirms its agreement with Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”), J.P. Morgan Securities Inc. (“JPMorgan”) and each of the other Underwriters named in Schedule A hereto (collectively, the “Underwriters,” which term shall also include any underwriter substituted as hereinafter provided in Section 10 hereof), for whom Merrill Lynch and JPMorgan are acting as representatives (in such capacity, the “Representatives”), with respect to the issue and sale by the Company, and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of 8.00% Non-Cumulative Preferred Shares, Series A, par value $0.01 per share, of the Company (the “Preferred Shares”) set forth in Schedule A hereto. The aforesaid 8,000,000 Preferred Shares to be purchased by the Underwriters are hereinafter called the “Securities.”
