Arch reports Q2 profit of $288m


Arch Capital Group is the latest re/insurer to see its profitability severely hampered by the impact of COVID-19, reporting second quarter profits that were markedly down on the previous year. 

Arch reported net profit of $288.4 million for the second quarter of 2020. In Q2 2019 it had generated profit of $458.6 million.

Arch said it had made pre-tax current accident year catastrophic losses in its re/insurance segments, net of reinsurance and reinstatement premiums, of $207.2 million, of which $173.1 million related to COVID-19.

Gross written premiums increased in Q2 2020 to  nearly $2.21 billion, up from $1.94 billion in the same period of the previous year. 

Its combined ratio increased to 101.8 percent in Q2 2020, up from 80.4 percent in Q2 2019.

Arch Capital, Results

Bermuda Re