Profit rises for Arch Capital
Arch Capital Group Ltd has reported a profit of $382.1 million, or 92 cents per share, for the third-quarter. That is up from $217 million, or 53 cents per share, for the same period last year.
After-tax operating income was $261 million, or 63 cents per share, up from 59 cents.
The Bermudian-based company’s combined ratio was 84.2 per cent, up from 82.3 per cent. However, excluding catastrophic activity and prior year development, the combined ratio decreased 0.9 per cent to 80.9 per cent.
Gross premiums written were $2.18 billion, up from $1.73 billion. Book value per common share of $25.61 at the end of September.
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