Arch Reports Q3 Income: $162.5M
Arch Capital Group Ltd. reports that net income available to common shareholders for the 2011 third quarter was $162.5 million, or $1.19 per share, compared to $141.6 million, or $0.92 per share, for the 2010 third quarter.
The Company also reported after-tax operating income available to common shareholders of $107.4 million, or $0.78 per share, for the 2011 third quarter, compared to $130.7 million, or $0.85 per share, for the 2010 third quarter. All earnings per share amounts discussed in this release are on a diluted basis.
A statement released by Arch said, “The Company’s book value per common share was $31.20 at September 30, 2011, a 0.6% increase from $31.00 per share at June 30, 2011 and a 4.0% increase from $29.99 per share at December 31, 2010.”
“The Company’s after-tax operating income available to common shareholders represented a 10.4% annualized return on average common equity for the 2011 third quarter, compared to 12.3% for the 2010 third quarter. After-tax operating income available to common shareholders, a non-GAAP measure, is defined as net income available to common shareholders, excluding net realized gains or losses, net impairment losses recognized in earnings, equity in net income or loss of investment funds accounted for using the equity method and net foreign exchange gains or losses, net of income taxes.”
Very impressive Arch. Most of the other local insurer’s will post losses for the 3rd quarter. What’s your secret?