Arch Capital: Q4 Earnings Snapshot

PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Wednesday reported fourth-quarter profit of $2.33 billion.

On a per-share basis, the Pembroke, Bermuda-based company said it had net income of $6.12. Earnings, adjusted for non-recurring gains, came to $2.49 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.

The property and casualty insurer posted revenue of $3.98 billion in the period. Its adjusted revenue was $3.67 billion, which met Street forecasts.

For the year, the company reported profit of $4.44 billion, or $11.62 per share. Revenue was reported as $13.49 billion.

Arch Capital shares have climbed 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84.87, an increase of 28% 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