Arch reports increased Q3 2020 profits

30-10-2020

Arch Capital Group saw its profits increase year on year for the third quarter of 2020, as the re/insurer overcame challenges presented by an active hurricane season and the COVID-19 pandemic. 

Arch reported net profit of $408.6 million for Q3, compared to $382.1 million for Q3 2019.

Pre-tax current accident year catastrophic losses came in at $203.3 million, net of reinsurance and reinstatement premiums, including $11.9 million of COVID-19 related losses.

Arch generated gross written premiums of $2.68 billion, up from $2.18 billion in the same period of 2019. The reinsurance segment reported gross written premiums of just over $1 billion for Q3 2020, up from $662.6 million in the same period of 2019.

The combined ratio for the group, excluding catastrophic activity and prior year development, was 84.3 percent for the quarter, compared to 80.9 percent for the same period of 2019. For the reinsurance segment specifically its combined ratio fell to 99 percent, from 100.3 percent in the same period last year. 



Arch Capital Group, Results

Bermuda Re