Arch earns praise with Wall Street beat
Arch Capital was among the majority of P&C (re)insurers to beat Wall Street forecasts on Q3 earnings as profits were boosted by benign cats in the period and continued reserve releases.
The Bermudian reported operating earnings of $120.2mn, or $0.87 a share, that were ahead of the $107.2mn or $0.78 booked in Q3 2011 and analysts' consensus of $0.77 a share.
The company reported a solid 6.8 percent growth in book value per share in the period, as it said...
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