Arch Capital Group Ltd (ACGL) Tops Q4 EPS by 6c, Revenues Beat

Arch Capital Group Ltd (NASDAQ: ACGL) reported Q4 EPS of $0.74, $0.06 better than the analyst estimate of $0.68. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.27 billion.

• Net income available to Arch common shareholders of $316.0 million, or $0.76 per share, a 12.0% annualized return on average common equity, compared to $126.1 million, or $0.31 per share, for the 2018 fourth quarter;
• After-tax operating income available to Arch common shareholders, a non-GAAP measure, of $308.4 million, or $0.74 per share, an 11.7% annualized return on average common equity, compared to $189.2 million, or $0.46 per share, for the 2018 fourth quarter;
• Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums(1) of $30.4 million;
• Favorable development in prior year loss reserves, net of related adjustments(1) of $54.7 million;
• Combined ratio excluding catastrophic activity and prior year development(1) of 81.4%;
• Book value per common share of $26.42 at December 31, 2019, a 3.2% increase in the 2019 fourth quarter and a 22.8% increase for the year.

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

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