Arch Capital Reports 2015 First Quarter Results
Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2015 first quarter was $277.9 million, or $2.16 per share, compared to $177.0 million, or $1.30 per share, for the 2014 first quarter.
The Company also reported after-tax operating income available to Arch common shareholders of $149.8 million, or $1.17 per share, for the 2015 first quarter, compared to after-tax operating income available to Arch common shareholders of $164.4 million, or $1.20 per share, for the 2014 first quarter.
The Company’s after-tax operating income available to Arch common shareholders represented an annualized return on average common equity of 10.2% for the 2015 first quarter, compared to 12.1% for the 2014 first quarter. The Company’s net income available to Arch common shareholders represented an annualized return on average common equity of 18.9% for the 2015 first quarter, compared to 13.0% for the 2014 first quarter. The Company’s book value per common share was $47.80 at March 31, 2015, a 4.9% increase from $45.58 per share at December 31, 2014 and a 15.1% increase from $41.52 per share at March 31, 2014.
After-tax operating income or loss available to Arch common shareholders, a non-GAAP measure, is defined as net income available to Arch 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
