Arch Capital Group unveils Q1 financials
Arch Capital Group has released its financial results for the first quarter of 2024.
|
Metric
|
Q1 2024
|
Q1 2023
|
|---|---|---|
|
Gross written premium (GWP)
|
$5.9 billion
|
$4.8 billion
|
|
Underwriting income
|
$736 million
|
$570 million
|
|
Pre-tax net investment income
|
$327 million
|
$199 million
|
|
After-tax operating income available to Arch common shareholders
|
$933 million
|
$654 million
|
|
Net income available to Arch common shareholders
|
$1.1 billion
|
$705 million
|
Of the group’s GWP in the first quarter, $2.1 billion came from the insurance segment while the reinsurance segment contributed $3.5 billion. Both units posted increases in gross written premium in Q1. The mortgage segment, which saw a slight dip, brought in $341 million.
Commenting on the figures, Arch chief executive Marc Grandisson said: “We are extremely pleased with the outstanding financial results across our operations in the first quarter.
“I am especially proud of the ongoing commitment of our Arch colleagues to delivering value-added solutions to our clients and partners in this ever-changing risk environment. This level of hard and smart work bodes well for our future success to the benefit of our shareholders.”
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