Arch Capital Q2 Profit Rises

(RTTNews) - Arch Capital Group Ltd. (ACGL) Thursday reported second-quarter net income of $202.5 million or $1.48 per share, up from $171.5 million or $1.26 per share last year.

Operating income for the quarter was $160.7 million or $1.17 per share, up from $135.0 million or $0.99 per share last year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit of $0.99 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums written for the quarter grew 13.5 percent from $920.1 million from $810.5 million last year. Analysts had a consensus revenue estimate of $926.2 million for the quarter.