Insurance and reinsurance firm Arch Capital yesterday reported profits of $53.1 million for the fourth quarter of last year.

The figure is equivalent to 42 cents per share and $156.6 million down on the $209.7 million, or $1.60 per share, logged for the same period of 2014.

Arch’s book value per common share was $47.95 per share at year end last year, a 5.2 per cent increase from the $45.58 per share the year before.

The last quarter figures means the firm had profits of $515.8 million for the year, compared to $812.4 for 2014 — a drop of $296.6 million.

Gross premiums written for the final quarter in 2015 amounted to $1.03 billion, down 3.6 per cent of the $1.07 billion recorded for the same period last year.

And for the year gross premiums totalled $4.65 billion, 2.2 per cent down on the $4.76 billion written in 2014.

Arch had about $7.1 billion in capital at December 31 last year.