Arch Capital Reports 2019 Fourth Quarter Results
Bermuda-based Arch Capital Group Ltd. announced its 2019 fourth quarter results.
The results included:
- Net income available to Arch common shareholders of $316.0 million, or $0.76 per share, a 12.0% annualized return on average common equity, compared to $126.1 million, or $0.31 per share, for the 2018 fourth quarter;
- After-tax operating income available to Arch common shareholders, a non-GAAP measure, of $308.4 million, or $0.74 per share, an 11.7% annualized return on average common equity, compared to $189.2 million, or $0.46 per share, for the 2018 fourth quarter;
- Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums[1] of $30.4 million;
- Favorable development in prior year loss reserves, net of related adjustments[1] of $54.7 million;
- Combined ratio excluding catastrophic activity and prior year development[1] of 81.4%;
- Book value per common share of $26.42 at December 31, 2019, a 3.2% increase in the 2019 fourth quarter and a 22.8% increase for the year.
