Arch Capital Q3 2022 Earnings Report
Key Takeaways
Arch Capital Group Ltd. reported a net income of $6.9 million, or $0.02 per share, for the third quarter of 2022, a significant decrease compared to $388.8 million, or $0.98 per share, for the same period in 2021. The results were impacted by pre-tax current accident year catastrophic losses of $550.8 million, primarily related to Hurricane Ian. However, the company saw growth in gross premiums written, net premiums written, and net premiums earned.
Net income available to Arch common shareholders was $6.9 million, or $0.02 per share, compared to $388.8 million, or $0.98 per share, for Q3 2021.
After-tax operating income available to Arch common shareholders was $106.0 million, or $0.28 per share, compared to $294.7 million, or $0.74 per share, for Q3 2021.
Pre-tax current accident year catastrophic losses for the Company’s insurance and reinsurance segments were $550.8 million, primarily related to Hurricane Ian.
Combined ratio excluding catastrophic activity and prior year development was 82.2%, compared to 80.1% for Q3 2021.
Arch Capital
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Arch Capital Revenue by Segment
Forward Guidance
The document does not contain specific forward guidance. It includes a cautionary note regarding forward-looking statements, which are subject to risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income