Outcomes season proceeds, and now Insurance Business provides you with the most recent numbers from Bermuda-headquartered Arch Capital Group.
In the next quarter, net income available to Arch average shareholders amounted to $288.4 million. The amount represents a reduction from the $458.6 million registered in precisely the exact same period this past year.
According to the organization’s financial results report, Arch endured a $22.5 million underwriting loss in Q2 — a huge dip from 2019’s $293.1 million fund income. Both the insurance and reinsurance sections were struck by underwriting losses.
Arch noted pre-tax current accident year devastating losses of $207.2 million to both segments. Of that total, which will be net of reinsurance and reinstatement premiums, $173.1 million relates to COVID-19.