This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Arch Capital Group Ltd. Reports 2012 Third Quarter Results

The following table summarizes, on an after-tax basis, the Company’s consolidated financial data, including a reconciliation of after-tax operating income available to common shareholders to net income available to common shareholders and related diluted per share results:

       
Three Months Ended Nine Months Ended
September 30, September 30,
(U.S. dollars in thousands, except share data) 2012     2011   2012     2011  
 
After-tax operating income available to common
shareholders $ 120,247 $ 107,176 $ 375,307 $ 174,491
Net realized gains, net of tax 58,904 28,458 133,052 94,842
Net impairment losses recognized in earnings, net of tax (2,379 ) (2,739 ) (5,353 ) (7,103 )
Equity in net income (loss) of investment funds
accounted for using the equity method, net of tax 24,330 (30,549 ) 56,943 5,097
Net foreign exchange (losses) gains, net of tax   (16,930 )   59,948     (5,363 )   4,121  
Net income available to common shareholders $ 184,172   $ 162,294   $ 554,586   $ 271,448  
 
Diluted per common share results:
After-tax operating income available to common
shareholders $ 0.87 $ 0.78 $ 2.72 $ 1.26
Net realized gains, net of tax 0.42 0.21 0.96 0.68
Net impairment losses recognized in earnings, net of tax (0.02 ) (0.02 ) (0.04 ) (0.05 )
Equity in net income (loss) of investment funds
accounted for using the equity method, net of tax 0.18 (0.22 ) 0.41 0.04
Net foreign exchange (losses) gains, net of tax   (0.12 )   0.43     (0.04 )   0.03  
Net income available to common shareholders $ 1.33   $ 1.18   $ 4.01   $ 1.96  
 
Weighted average common shares and common
share equivalents outstanding – diluted 138,696,934 137,140,929 138,235,995 138,542,558
 

The Company’s investment portfolio continues to be comprised primarily of high quality fixed income securities with an average credit quality of “AA/Aa2.” The average effective duration of the investment portfolio was 2.90 years at September 30, 2012, compared to 3.01 years at June 30, 2012 and 2.99 years at December 31, 2011. Including the effects of foreign exchange, total return on the Company’s investment portfolio was a positive 2.45% for the 2012 third quarter, compared to a negative 0.23% for the 2011 third quarter. Excluding the effects of foreign exchange, total return was a positive 2.17% for the 2012 third quarter, compared to a positive 0.38% for the 2011 third quarter.

2 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs