Arch Capital Group has released its financial results for the first quarter of 2024.
Here’s how Arch fared in the three months ended March 31:
|
Metric |
Q1 2024 |
Q1 2023 |
|---|---|---|
|
Gross written premium (GWP) |
US$5.9 billion |
US$4.8 billion |
|
Underwriting income |
US$736 million |
US$570 million |
|
Pre-tax net investment income |
US$327 million |
US$199 million |
|
After-tax operating income available to Arch common shareholders |
US$933 million |
US$654 million |
|
Net income available to Arch common shareholders |
US$1.1 billion |
US$705 million |
Of the group’s GWP in the first quarter, US$2.1 billion came from the insurance segment while the reinsurance segment contributed US$3.5 billion. Both units posted increases in gross written premium in Q1. The mortgage segment, which saw a slight dip, brought in US$341 million.
Commenting on the figures, Arch chief executive Marc Grandisson said: “We are extremely pleased with the outstanding financial results across our operations in the first quarter.
“I am especially proud of the ongoing commitment of our Arch colleagues to delivering value-added solutions to our clients and partners in this ever-changing risk environment. This level of hard and smart work bodes well for our future success to the benefit of our shareholders.”
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