Arch Capital Reports 2018 First Quarter Results
Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2018 first quarter was $137.3 million, or $0.99 per share, compared to $241.9 million, or $1.74 per share, for the 2017 first quarter.
The Company’s net income available to Arch common shareholders produced an annualized return on average common equity of 6.6% for the 2018 first quarter, compared to 12.6% for the 2017 first quarter. All earnings per share amounts discussed in this release are on a diluted basis.
The Company’s book value per common share was $61.24 at March 31, 2018, a 0.5% increase from $60.91 per share reported at December 31, 2017 and a 6.2% increase from $57.69 per share at March 31, 2017.
The Company also reported after-tax operating income to Arch common shareholders, a non-GAAP measure, of $235.1 million, or $1.69 per share, for the 2018 first quarter, compared to after-tax operating income to Arch common shareholders of $198.0 million, or $1.42 per share, for the 2017 first quarter.
The Company’s after-tax operating income available to Arch common shareholders produced an annualized return on average common equity of 11.3% for the 2018 first quarter, compared to 10.3% for the 2017 first quarter.
