Our annualized Return on Average Common Equity was 10.4% on a reported basis including a slightly negative effect of above-average cat activity and aided by prior year reserve releases.We continue to believe that in the current market environment, we are earning high single-digit ROEs on an underwriting year basis. This is essentially the same level of ROE performance we estimated for the 2010 underwriting year with slightly less earnings from investment income offsetting by slightly better underwriting results generated by adjustments to our mix of business.
Arch Capital Group's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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