Arch Capital Group Ltd (ACGL) Tops Q3 EPS by 7c

Arch Capital Group Ltd (NASDAQ: ACGL) reported Q3 EPS of $0.59, $0.07 better than the analyst estimate of $0.52.

• Net income available to Arch common shareholders of $217.0 million, or $0.53 per share, a 10.2% annualized return on average common equity, compared to a net loss of $52.8 million, or $0.13 per share, for the 2017 third quarter;
• After-tax operating income available to Arch common shareholders, a non-GAAP measure, of $242.3 million, or $0.59 per share, an 11.4% annualized return on average common equity, compared to a net loss of $107.1 million, or $0.26 per share, for the 2017 third quarter;
• Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums(1), of $58.2 million, primarily related to Hurricane Florence and Typhoon Jebi;
• Favorable development in prior year loss reserves, net of related adjustments(1), of $77.6 million;
• Combined ratio excluding catastrophic activity and prior year development(1) of 81.8%;
• Book value per common share of $21.15 at September 30, 2018, a 2.3% increase in the 2018 third quarter and a 6.4% increase for the trailing twelve months;
• Share repurchases of $11.0 million.

For earnings history and earnings-related data on Arch Capital Group Ltd (ACGL) click here.

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