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Arch Capital adds $1b to buyback programme

Bermuda-based re/insurer Arch Capital Group Ltd has added $1 billion to its share repurchase programme.This will be in addition to the $84.4 million available under a previous share repurchase authorisation.Arch had $4.91 billion in capital at the end of last year. Two weeks ago, the company announced net earnings of $816.7 million for 2010.