Arch Capital Q2 Profit Declines

(RTTNews) - Arch Capital Group Ltd. (ACGL) reported that its second-quarter net income available to common shareholders declined to $171.46 million or $1.26 per share from $202 million or $1.46 per share last year.

On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $810.54 million, up from $820.23 million last year. Analysts expected revenues of $883.15 million.

Net premiums earned amounted to $758.82 million, compared to $726.66 million last year.

Net investment income for the quarter was $68.4 million, or $0.50 per share, compared to $73.6 million, or $0.53 per share in the prior year quarter.

Combined ratio for the quarter was 87.4 percent, compared to 87.21 percent last year.