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Arch Capital beats 1Q profit forecasts

PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Tuesday reported first-quarter earnings of $253.1 million.

The Pembroke, Bermuda-based company said it had net income of $1.74 per share. Earnings, adjusted for investment gains, came to $1.42 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The property and casualty insurer posted revenue of $1.32 billion in the period. Its adjusted revenue was $1.23 billion.

Arch Capital shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $96.51, a rise of 36 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACGL at https://www.zacks.com/ap/ACGL

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Keywords: Arch Capital Group, Earnings Report