Arch Capital Group Ltd (ACGL) Tops Q4 EPS by 8c

Arch Capital Group Ltd (NASDAQ: ACGL) reported Q4 EPS of $0.46, $0.08 better than the analyst estimate of $0.38.

• Net income available to Arch common shareholders of $126.1 million, or $0.31 per share, a 5.9% annualized return on average common equity, compared to $203.5 million, or $0.49 per share, for the 2017 fourth quarter;
• After-tax operating income available to Arch common shareholders, a non-GAAP measure, of $189.2 million, or $0.46 per share, an 8.8% annualized return on average common equity, compared to $187.4 million, or $0.45 per share, for the 2017 fourth quarter;
• Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums(1), of $118.2 million, primarily related to Hurricane Michael and the California wildfires;
• Favorable development in prior year loss reserves, net of related adjustments(1), of $74.4 million;
• Combined ratio excluding catastrophic activity and prior year development(1) of 80.8%;
• Book value per common share of $21.52 at December 31, 2018, a 1.7% increase in the 2018 fourth quarter and a 6.0% increase for the year;
• Share repurchases of $98.2 million.

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

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