Arch Capital Group Ltd. Reports 2009 Fourth Quarter Results.
Business Wire › February 16, 2010
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Arch Capital Group Ltd. Reports 2009 Fourth Quarter Results.
HAMILTON, Bermuda -- Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for the 2009 fourth quarter was $284.7 million, or $4.75 per share, compared to a net loss to common shareholders of $143.0 million, or $2.38 per share, for the 2008 fourth quarter. For the year ended December 31, 2009, net income available to common shareholders was $851.1 million, or $13.74 per share, compared to $265.1 million, or $4.09 per share, for the 2008 period. The Company also reported after-tax operating income available to common shareholders of $159.4 million, or $2.66 per share, for the 2009 fourth quarter, compared to $85.9 million, or $1.43 per share, for the 2008 fourth quarter, and $651.8 million, or $10.53 per share, for the year ended December 31, 2009, compared to $537.4 million, or $8.29 per share, for the 2008 period. All earnings per share amounts discussed in this release are on a diluted basis.
The Company's book value per common share was $73.01 at December 31, 2009, a 5.1% increase from $69.48 per share at September 30, 2009 and a 42.2% increase from $51.36 at December 31, 2008. The growth in book value per common share was generated by operating income and investment returns. The Company's after-tax operating income available to common shareholders represented a 15.7% annualized return on average common equity for the 2009 fourth quarter, compared to 10.9% for the 2008 fourth quarter...See the full content of this document
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