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Arch Capital reports 3Q loss

PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Wednesday reported a third-quarter loss of $33.7 million, after reporting a profit in the same period a year earlier.

The Pembroke, Bermuda-based company said it had a loss of 39 cents per share. Losses, adjusted for non-recurring gains, were 79 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 59 cents per share.

The property and casualty insurer posted revenue of $1.38 billion in the period.

Arch Capital shares have climbed 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $102.10, an increase of 31 percent in the last 12 months.


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