Arch Capital Group rises after Q4 profit beat

Arch Capital

15/02/2024 18:48

** Shares of insurer Arch Capital Group  ACGL.O  rise as
much as 4.2%, last up 1.1% at $85.81
    ** After market close on Wednesday, the company reported Q4
after-tax operating income available to Arch common shareholders
of $2.49/shr vs analysts' expectations of $2.03/shr - LSEG 
    ** Q4 net premiums written rose 7.4% to $3.26 bln compared
to last year
    ** Q4 net investment income came in at $313 mln, up from
$181 mln last year, thanks to higher interest rates
    ** "We are bullish about our prospects for 2024 as our
underwriters continue to lean into the excellent conditions
prevalent in most of the markets where we operate" - CEO Marc
Grandisson
    ** Stock gained 18.3% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))