Bermuda-based Arch Capital Group Ltd. reported net income available to common shareholders for the 2013 third quarter of $109.3 million, or $0.80 per share, compared to $184.2 million, or $1.33 per share, for Q3, 2012.
The Company also reported after-tax operating income available to common shareholders of $149.2 million, or $1.10 per share, for the 2013 third quarter, compared to after-tax operating income available to common shareholders of $120.2 million, or $0.87 per share, for the 2012 third quarter.”
The earnings reported also noted that the Company’s “after-tax operating income available to common shareholders represented an annualized return on average common equity of 11.9 percent for the 2013 third quarter, compared to 9.9 percent for the 2012 third quarter, while the Company’s net income available to common shareholders represented an annualized return on average common equity of 8.7 percent for the 2013 third quarter, compared to 15.2 percent for the 2012 third quarter. The Company’s book value per common share was $38.34 at September 30, 2013, a 4.2 percent increase from $36.80 per share at June 30, 2013 and a 4.2 percent increase from $36.79 per share at September 30, 2012.”
The combined ratio for Q3 2013 was 86.0 percent, compared to 90.2 percent in Q3 2012.
For the first nine months of 2013 Arch reported $3.241 billion in gross premiums written, compared to $3.055 billion for the same period in 2012. Net income was $531.788 million, compared to $ 543.974 million for the first 9 months of 2012. The combined ratio for the period was 86.0 percent, compared to 89.2 percent last year.
Source: Arch Capital
Topics Profit Loss
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