1st May 2022

Arch Capital reports first quarter financials
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Arch Capital Group has announced first quarter results. Highlights are:
-Net income available to Arch common shareholders of $185.6m, or $0.48 per share, a 6.0% annualised net income return on average common equity, compared to $427.8m, or $1.05 per share, for the 2021 first quarter;
-After-tax operating income available to Arch common shareholders(1) of $422m, or $1.10 per share, a 13.6% annualized operating return on average common equity, compared to $239.8m, or $0.59 per share, for the 2021 first quarter;
-Pre-tax current accident year catastrophic losses for the Company’s insurance and reinsurance segments, net of reinsurance and reinstatement premiums of $85.8m, including amounts associated with Russia’s invasion of Ukraine;
-Favourable development in prior year loss reserves, net of related adjustments(1) of $129.4m;
-Combined ratio excluding catastrophic activity and prior year development(1) of 80.8, compared to 81 for the 2021 first quarter;
-5.6 million shares repurchased at an aggregate cost of approximately $255m;
Book value per common share of $32.18 at 31st March 2022, a 4.1% decrease from December 31, 2021.

Arch Capital Trends(146 articles)