Arch Capital, which has extensively restructured its operations over the past year, announced that its after tax operating income for the 3rd quarter, excluding net realized investment gains and losses and equity in net income of investees, was $465,000. Including investments and equity interests net income for the period was $892,000 compared to $2.3 million last year.
The announcement confirmed plans to establish Arch Reinsurance Ltd. in Bermuda (See IJ Website Oct. 25) with an initial capitalization of $1 billion, and its agreement to acquire Rock River Insurance Company, “an approved excess and surplus lines insurer in 45 states and the District of Colombia and an admitted insurer in two other states” from Sentry Insurance.
Topics Profit Loss
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