The profits of Bermuda-based re/insurer Arch Capital fell in the third quarter of the year.
Arch reported a net income of $74.5 million for the third quarter of the year, compared with $223.2 million for the third quarter of last year.
The firm’s combined ratio was also up in Q3 of this year to 89.7 percent, compared with 88.5 percent in the same time period of last year.
Arch Capital’s gross written premiums increased however to $1.16 billion in the third quarter of this year, compared with $1.14 billion in the third quarter of 2014.
The company’s total return in the 2015 third quarter was 0.04 percent, reflecting the impact of the strengthening U Dollar against the British Pound Sterling, Canadian Dollar and other major currencies on non-U.S. Dollar denominated investments. Investment-grade fixed income returns were substantially offset by negative returns on equities, high yield and alternative strategies.
Arch Capital, Bermuda