Arch Capital Group Ltd. reported third-quarter net profit of $ 388.8 million, compared to $ 408.6 million for the same period last year, as catastrophic losses hit earnings hard and investment income declined.
Exchange rate losses also hit.
Net income premiums increased by 20.2% to $ 2.06 billion, and the company's total expense ratio improved to 91.4% from 93.9% in the third quarter of 2020.
In the insurance segment, net premium income increased 40.0% to In the reinsurance segment, net premium income grew by 2.8% to $ 621,389 from 604,202.
Net income from investments decreased by 11.7% to $ 899.2 million in accidents from $ 89.2 million from $ 899.2 million $ 2.099 million years. The losses for Arch's insurance and reinsurance segments, net after reinsurance and repayment premiums of $ 335.9 million, were primarily related to Hurricane Ida, European floods and other global events, Arch said. nge losses amounted to $ 36,078 during the third quarter, as opposed to a gain of $ 39,462 during the same period last year.