Arch Capital Group has recently released its financial results for the quarter ended March 31, 2021, and the numbers are mostly positive.
According to the global insurance group, its insurance segment posted an underwriting income of US$18.4 million, and it is a massive turnaround from the US$28.2 million underwriting loss suffered by the unit in the same period in 2020.
The Gross Written Premium (GWP) of the insurance segment improved as well, from US$1.2 billion previously to US$1.4 billion this time around. Higher GWP was also seen in the reinsurance business, at US$1.5 billion. The segment, however, was dealt with a US$19.7 million underwriting loss. Overall, the GWP of Arch Capital grew 19.9% to US$3.4 billion.
Arch, which also has a mortgage segment, saw the group’s after-tax operating income available to common shareholders increase to US$239.8 million. The figure from a year ago was US$189.8 million.
