Arch Capital Reports First Quarter Results

May 2, 2019 | 0 Comments

Bermuda-based Arch Capital Group Ltd. announces its 2019 first quarter results.

The results included:

  • Net income available to Arch common shareholders of $438.1 million, or $1.07 per share, a 19.5% annualized return on average common equity, compared to $137.3 million, or $0.33 per share, for the 2018 first quarter;
  • After-tax operating income available to Arch common shareholders, a non-GAAP measure, of $275.9 million, or $0.67 per share, a 12.3% annualized return on average common equity, compared to $235.1 million, or $0.56 per share, for the 2018 first quarter;
  • Book value per common share of $23.12 at March 31, 2019, a 7.4% increase in the 2019 first quarter and a 13.3% increase for the trailing twelve months;
  • Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums[1] of $7.9 million;
  • Favorable development in prior year loss reserves, net of related adjustments[1] of $36.7 million;
  • Combined ratio excluding catastrophic activity and prior year development[1] of 81.4%.
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