Arch Capital beats 4Q profit forecasts

PEMBROKE, Bermuda (AP) _ Arch Capital Group Ltd. (ACGL) on Monday reported fourth-quarter profit of $74 million.

On a per-share basis, the Pembroke, Bermuda-based company said it had profit of 50 cents. Earnings, adjusted for one-time gains and costs, were $1.13 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The property and casualty insurer posted revenue of $966.5 million in the period. Its adjusted revenue was $1.06 billion.

For the year, the company reported profit of $692.7 million, or $5.33 per share. Revenue was reported as $4.25 billion.

Arch Capital shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $93.21, a climb of 40 percent 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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Keywords: Arch Capital Group, Earnings Report