PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Monday reported fourth-quarter earnings of $1.24 billion.
The Pembroke, Bermuda-based company said it had profit of $3.35 per share. Earnings, adjusted for non-recurring gains, were $2.98 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The property and casualty insurer posted revenue of $4.93 billion in the period. Its adjusted revenue was $4.75 billion, also topping Street forecasts. Five analysts surveyed by Zacks expected $4.66 billion.
For the year, the company reported profit of $4.4 billion, or $11.60 per share. Revenue was reported as $18.96 billion.
Arch Capital shares have climbed slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $96.06, a rise of nearly 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACGL at https://www.zacks.com/ap/ACGL
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