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Arch Capital Group Ltd. (ACGL) has reported 26.35 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $74.01 million, or $0.50 a share in the quarter, compared with $58.58 million, or $0.42 a share for the same period last year.
Revenue during the quarter grew 9.56 percent to $988.23 million from $902 million in the previous year period. Net premium earned for the quarter went up marginally by 2.69 percent or $25.34 million to $968.86 million. During the quarter, the company has written premium worth $872.32 million on net basis, up 4.47 percent or $37.33 million.
Net investment income was at $91.05 million for the quarter, down 5.06 percent or $4.85 million from year-ago period. Meanwhile, income from fees and commission for the quarter jumped 119.49 percent or $10.30 million to $18.92 million. The company has booked a loss on investments of $106.65 million in the quarter compared with a loss of $151.10 million for the previous year period.
Operating cash flow improves significantly
Arch Capital Group Ltd. has generated cash of $1,396.64 million from operating activities during the year, up 39.96 percent or $398.74 million, when compared with the last year. The company has spent $2,721.54 million cash to meet investing activities during the year as against cash outgo of $913.88 million in the last year.
Cash flow from financing activities was $1,635.67 million for the year as against cash outgo of $4.66 million in the last year period.
Cash and cash equivalents stood at $842.94 million as on Dec. 31, 2016, up 52.34 percent or $289.62 million from $553.33 million on Dec. 31, 2015.
Assets outpace liabilities growth
Total assets increased 26.73 percent or $6,194.84 million to $29,372.11 million on Dec. 31, 2016. On the other hand, total liabilities were at $20,060.98 million as on Dec. 31, 2016, up 25.16 percent or $4,032.61 million from year-ago.
Return on assets stood at 0.30 percent in the quarter, up 0.12 from 0.19 percent in the last year period. At the same time, return on equity was at 0.69 percent in the quarter, down 0.08 from 0.76 percent in the last year period.
Investments move up
Investments stood at $19,719.65 million as on Dec. 31, 2016, up 24.47 percent or $3,876.71 million from year-ago. Meanwhile, yield on investments went down 14 basis points to 0.46 percent in the quarter. Total debt was at $2,488.91 million as on Dec. 31, 2016, up 88.31 percent or $1,167.17 million from year-ago. Shareholders equity stood at $9,105.57 million as on Dec. 31, 2016, up 31.13 percent or $2,161.86 million from year-ago. As a result, debt to equity ratio went up 8 basis points to 0.27 percent in the quarter from 0.19 percent in the last year period.
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