insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news

Breaking-Finance.Com - Net income available to common shareholders tumbles

insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news

Breaking-Finance.Com - Net income available to common shareholders tumbles

insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news
31 July 2020 - 16:21

Breaking-Finance.Com - Arch Capital Group hit with underwriting loss in Q2 | Insurance Business Results season continues, and this time Insurance Business brings you the latest numbers from Bermuda-headquartered Arch Capital Group. In the second quarter, net income available to Arch common shareholders amounted to US$288.4 million (around £219.2 million). The figure represents a decrease from the US$458.6 million (around £348.6 million) posted in the same period last year. googletag.cmd.push(function () { googletag.

.5 million underwriting loss in Q2 – a massive plunge from 2019’s US$293.1 million underwriting income. Both the insurance and reinsurance segments were hit by underwriting losses. Arch noted pre-tax current accident year catastrophic losses of US$207.2 million for the two segments. Of that total, which is net of reinsurance and reinstatement premiums, US$173.1 million relates to COVID-19. The insurance group’s gross written premium, on the other hand, grew to US$2.3 billion.

Source = Breaking-Finance.Com

Financial breaking news

This news 93 hits received.

insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news


insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news


insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news


insurance financial news Arch Capital Group hit with underwriting loss in Q2 business insurance news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Personalisation and customisation with data in the banking and payments industry last financial news
Finance Breaking news Personalisation and customisation with data in...
Finance Breaking news BIS: FX execution algorithms contribute to market functioning but bring new challenges last financial news
Finance Breaking news BIS: FX execution algorithms contribute to...