Arch Capital Group saw its Q1 profitability slide compared to the previous year, but still managed to post a profit for the quarter.
Arch reported a net profit of $133.7 million for Q1 2020, compared to $438.1 million for the same period last year.
Gross written premiums were $2.83 billion in Q1, up from $2.08 billion in Q1 2019. Its combined ratio increased to 91.5 percent for the quarter, from 81.7 percent in Q1 2019.
Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums, were $118.4 million, including $86.6 million of losses for exposure through March 31 related to the COVID-19 global pandemic.
12 February 2020 Arch Capital Group saw profits more than double in 2019 from the previous year, with Q4 results also showing year on year improvements.
12 February 2020 Arch Capital Group saw profits more than double in 2019 from the previous year, with Q4 results also showing year on year improvements.