PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Monday reported second-quarter net income of $469 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $1.12. Earnings, adjusted for investment gains, came to 77 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The property and casualty insurer posted revenue of $1.78 billion in the period. Its adjusted revenue was $1.62 billion.
Arch Capital shares have climbed 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $38.20, a climb of 27% in the last 12 months.