Arch Capital profit rises to $427.8m – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Arch Capital profit rises to $427.8m

Arch Capital Group Ltd has reported net income of $427.8 million, or $1.05 per share, for the first quarter. That is up from $133.7 million for the same period a year ago.

After-tax operating income was $239.8 million, up from $189.8 million.

The Bermudian-based company's combined ratio improved to 90.7 per cent, from 91.5 per cent. Excluding catastrophic activity, the combined ratio was 81 per cent.

The first quarter results reflect a one-time gain of $74.5 million, or 18 cents per share, related to the purchase of a 29.5 per cent stake in Coface.

Arch's book value per common shares was $30.54 at the end of March, and improvement of 0.8 per cent since the end of 2020, and a 17 per cent increase year-on-year.

The company said that regulatory approvals are ongoing for the acquisition of Watford Holdings Ltd, and the transaction is expected to close this quarter.

You must be registered or signed-in to post comment or to vote.

Published April 29, 2021 at 8:00 am (Updated April 29, 2021 at 8:00 am)

Arch Capital profit rises to $427.8m

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon