Arch Capital Reports Q3 Net Loss Of $52.8M
Bermuda-based Arch Capital Group Ltd. reports that, as a result of the significant level of catastrophic event activity in the 2017 third quarter, the Company incurred a net loss to Arch common shareholders of $52.8 million, or $0.39 per share, compared to net income available to Arch common shareholders of $247.4 million, or $1.98 per share, for the 2016 third quarter.
For the nine months ended September 30, 2017, the Company reported net income available to Arch common shareholders of $363.0 million, or $2.61 per share, compared to $602.3 million, or $4.84 per share, for the 2016 period.
The Company also reported an after-tax operating loss to Arch common shareholders, a non-GAAP measure, of $107.1 million, or $0.79 per share, for the 2017 third quarter, compared to after-tax operating income to Arch common shareholders of $149.6 million, or $1.20 per share, for the 2016 third quarter.
For the nine months ended September 30, 2017, the Company reported after-tax operating income available to Arch common shareholders of $259.8 million, or $1.87 per share, compared to $435.9 million, or $3.50 per share, for the 2016 period.
