Arch Reports $156M Net Income For Q4
Bermuda-based Arch Capital Group Ltd. reports that net income available to common shareholders for the 2013 fourth quarter was $156.0 million, or $1.14 per share, compared to $13.7 million, or $0.10 per share, for the 2012 fourth quarter.
After-tax operating income available to common shareholders was $152.7 million, or $1.12 per share, for the 2013 fourth quarter, compared to an after-tax operating loss available to common shareholders of $24.7 million, or $0.18 per share, for the 2012 fourth quarter.
For 2013, net income available to common shareholders was $687.8 million, or $5.07 per share, compared to $557.7 million, or $4.03 per share, for 2012, while after-tax operating income available to common shareholders was $595.7 million, or $4.39 per share for 2013, compared to $350.6 million, or $2.54 per share, for 2012.
The Company’s book value per common share was $39.82 at December 31, 2013, a 3.9% increase from $38.34 per share at September 30, 2013 and a 10.0% increase from $36.19 per share at December 31, 2012. The Company’s after-tax operating income available to common shareholders represented an annualized return on average common equity of 11.7% for the 2013 fourth quarter, compared to (2.0)% for the 2012 fourth quarter, and 11.7% for 2013, compared to 7.7% for 2012. The Company’s net income available to common shareholders represented a return on average common equity of 13.5% for 2013, compared to 12.2% for 2012.
