Arch Cap Group Ltd Stock Price, News & Analysis

Arch Capital Group Ltd. (NASDAQ: ACGL) reported strong financial results for Q1 2023, showing net income of $705 million or $1.87 per share, a significant increase from $186 million or $0.48 per share in Q1 2022. The annualized net income return on average common equity reached 22.3%.

After-tax operating income stood at $654 million, equating to $1.73 per share, up from $422 million or $1.10 per share year-over-year. Although the combined ratio rose to 80.6% from 78.7% in the prior year, the company reported favorable developments in prior year loss reserves of $126 million. Book value per common share climbed to $35.35, reflecting an 8.4% increase from the end of 2022.

Arch Insurance announced the acquisition of Thimble, an insurtech platform focused on small business insurance.

This strategic move enhances Arch's digital offerings, facilitating easier access to insurance coverage for small businesses. Since May 2018, Thimble has issued over 170,000 policies across the U.S.

The Thimble team will continue to operate with existing partners, while also expanding the platform under Arch's umbrella. This acquisition aligns with Arch's goal of improving digital solutions for customers and brokers. The deal is expected to bolster Arch's growth in the small business insurance sector.

Arch Insurance's Dana Silverman has been awarded Customer Service Manager of the Year at the 17th annual Stevie Awards for Sales & Customer Service. Silverman, a pivotal figure since the launch of RoamRight in 2012, has significantly contributed to its growth and excellence in client service. Under her leadership, the customer service culture prioritizes client satisfaction, setting Arch apart in the industry. The Stevie Awards recognized over 2,300 nominations from various sectors globally, highlighting Silverman's unique approach and dedication to customer service excellence in the Accident and Health unit.

Arch Capital Group Ltd. (NASDAQ: ACGL) will release its 2023 first quarter results on April 26, 2023, after market hours. A conference call for investors and analysts is scheduled for April 27, 2023, at 11 a.m. Eastern Time. Interested parties can access a live webcast via the Company’s website. Arch Capital Group, based in Bermuda, reported approximately $15.6 billion in capital as of December 31, 2022, and is included in the S&P 500 Index. The Company provides insurance, reinsurance, and mortgage insurance globally through its subsidiaries.

Arch Capital Group Ltd. (NASDAQ: ACGL) announced its Q4 2022 results, reporting a net income of $849.5 million ($2.26/share), up from $613.1 million in Q4 2021. The after-tax operating income also rose to $805.9 million ($2.14/share), demonstrating significant growth. The combined ratio stood at 73.5%, improved from 77.6% a year earlier, while gross premiums written increased by 32.6% to $3.8 billion. Notably, the book value per share reached $32.62, reflecting a 9.9% increase since September 2022. The company emphasized strong underwriting performance despite current accident year catastrophic losses of $34.6 million.