10 February 2021News

Arch reports full year profit of $1.4bn for 2020

Arch Capital Group saw a slight decline in its full year profits for 2020, but reported a strong fourth quarter, with profits increasing and gross written premiums up.

Arch reported net profit of $1.36 billion for the full year 2020, slightly down on the $1.59 billion reported in 2019.

For the fourth quarter it reported net profit of $533.1 million, which was up on the $316 million reported in Q4 2019.

Its consolidated gross written premiums for Q4 increased to $2.26 billion, from $1.94 billion in Q4 2019. Gross written premiums in the reinsurance segment came in at $537.9 million for Q4 2020, up from $432.2 million in the same period of 2019.

Arch’s Q4 combined ratio inched up to 88.3 percent, from 83.8 percent in Q4 2019. The combined ratio for the reinsurance segment specifically was 91.3 percent for Q4 2020, down from 93.8 percent in the same period the previous year.