Profit increased at Bermuda-based re/insurer Arch Capital Group in the second quarter of 2021, reflecting growth across all lines of business, due in part to rate increases and new business opportunities.
Arch Capital's net profit rose to $663.8 million, compared with $288.4 million in the second quarter of 2020.
Its gross premiums written were 41.8 percent higher than in the 2020 second quarter. The GWP for Q2 2021 came in at $3.29 billion, compared with $2.317 billion in the prior year period.
The re/insurer's combined ratio improved significantly to 82 percent in the second quarter, from 101.8 percent reported in Q2 2020.
Arch Capital Group, Profits, Q2 Results, Insurance, Reinsurance, Bermuda