Exhibit 23.3

                     [Letterhead of PricewaterhouseCoopers]


                       CONSENT OF INDEPENDENT ACCOUNTANTS


     We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-3 of our reports
dated February 6, 2001 (except as to Note 2, which is as of August 6, 2001)
relating to the financial statements and financial statement schedules of Arch
Capital Group Ltd. (formerly known as Risk Capital Holdings, Inc.), which
appears in Arch Capital Group Ltd.'s Annual Report to Shareholders on Form
10-K/A for the year ended December 31, 2000. We also consent to the reference to
us under the heading "Experts" in such Prospectus.







/s/ PricewaterhouseCoopers
PricewaterhouseCoopers
Hamilton, Bermuda
February 11, 2002