Arch Capital Group has reported total revenues of $844.8m for the first quarter of 2010, which is an increase of 12% compared to $750.4m for the same period last year.
Arch Capital reported after-tax operating income of $98.7m for the first quarter of 2010, or $1.78 per share, compared to $169m, or $2.70 per share, for same quarter last year.
The company’s gross premiums written for the first quarter of 2010 were $953.6m compared to $1.02bn for the same period last year, while net premiums written were $767.7m compared to $822.8m. Net premiums earned for the first quarter were $670m compared to $700m for the same quarter in 2009.
The company posted an underwriting income of $23.9m for the first quarter of 2010, compared to $93.3m for the same quarter in 2009.
Net income for the 2010 first quarter was $210.5m, or $3.79 per share, compared to $139.9m, or $2.24 per share, for same period last year.
Arch Capital Group is a Bermuda-based company which provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.