Arch Capital Group falls to underwriting loss in Q2


Results season continues, and this time Insurance Business brings you the newest numbers from Bermuda-headquartered Arch Capital Group.

In the second one quarter, internet source of revenue to be had to Arch not unusual shareholders amounted to $288.four million. The determine represents a lower from the $458.6 million posted in the similar length ultimate 12 months.

According to the corporate’s monetary effects file, Arch suffered a $22.five million underwriting loss in Q2 – an enormous plunge from 2019’s $293.1 million underwriting source of revenue. Both the insurance coverage and reinsurance segments have been hit by means of underwriting losses.

Arch famous pre-tax present coincidence 12 months catastrophic losses of $207.2 million for the 2 segments. Of that general, which is internet of reinsurance and reinstatement premiums, $173.1 million relates to COVID-19.

The insurance coverage staff’s gross written top rate, alternatively, grew to $2.three billion.



Source: www.insurancebusinessmag.com

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