Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Roll-forward of changes in issued and outstanding Common Shares

The following table presents a roll-forward of changes in Arch Capital’s issued and outstanding Common Shares:


	Year Ended December 31,
	2020	2019	2018
Common Shares:
Shares issued and outstanding, beginning of year	574,617,195	570,737,283	549,872,226
Shares issued (1)	2,646,164	2,835,994	2,757,506
Conversion of Series D preferred shares (2)	—	—	17,022,600
Restricted shares issued, net of cancellations	1,737,482	1,043,918	1,084,951
Shares issued and outstanding, end of year	579,000,841	574,617,195	570,737,283
Common shares in treasury, end of year	(172,280,199)	(168,997,994)	(168,282,449)
Shares issued and outstanding, end of year	406,720,642	405,619,201	402,454,834

(1) Includes shares issued from the exercise of stock options and stock appreciation rights, the vesting of restricted share units and shares issued from the employee share purchase plan.

(2) Such shares represent common shares that were issued upon conversion of the non-voting common equivalent preference shares issued in connection with the AIG acquisition.

Schedule of share repurchases

The Company’s repurchases under the share repurchase program were as follows:


	Year Ended December 31,
	2020		2019		2018
Aggregate cost of shares repurchased	$	83,472	$	2,871	$	282,762
Shares repurchased	2,850,102		110,598		10,559,850
Average price per share repurchased	$	29.29	$	25.96	$	26.78