Arch Capital Reports 2022 Fourth Quarter Results
Arch Capital Group Ltd. [ACGL] announced its 2022 fourth quarter results.
A spokesperson said, “The results included:
- Net income available to Arch common shareholders of $849.5 million, or $2.26 per share, a 29.5% annualized net income return on average common equity, compared to $613.1 million, or $1.58 per share, for the 2021 fourth quarter;
- After-tax operating income available to Arch common shareholders[1] of $805.9 million, or $2.14 per share, a 28.0% annualized operating return on average common equity, compared to $493.3 million, or $1.27 per share, for the 2021 fourth quarter;
- Pre-tax current accident year catastrophic losses for the Company’s insurance and reinsurance segments, net of reinsurance and reinstatement premiums [1], of $34.6 million;
- Combined ratio excluding catastrophic activity and prior year development[1] of 82.0%, compared to 80.1% for the 2021 fourth quarter;
- Favorable development in prior year loss reserves, net of related adjustments[1] of $270.1 million;
- Book value per common share of $32.62 at December 31, 2022, a 9.9% increase from September 30, 2022.
