Arch Capital sees profits more than double for 2019

Arch Capital Group saw profits more than double in 2019 from the previous year, with Q4 results also showing year on year improvements.

Arch generated net profit of $1.59 billion for the full year in 2019, an increase of 123.5 percent on the $713.6 million reported in 2018.

The re/insurer reported gross written premiums of $7.69 billion for the full year in 2019, up 17.8 percent from the previous year’s $6.53 billion, while its combined ratio fell to 79.7 percent from 81.0 percent in 2018.

Meanwhile, for Q4 Arch reported net profit of $316 million, up from $126.1 million for Q4 2018.

Its gross written premiums were $1.84 billion for the quarter, up from $1.6 billion in the corresponding quarter the previous year, an increase of 14.6 percent.

Its combined ratio was 79.6 percent in Q4 2019, having been 84.4 percent the previous year.