Arch Capital almost doubles net income in Q2 2016 results

Arch Capital has reported increases in gross written premiums for its insurance and reinsurance segments in its second quarter 2016 results, as well as almost doubling its pre-tax net income compared to the second quarter results in 2015.

Arch Capital's pre-tax net income for the 2016 second quarter was $205.6 million, an 86.4 percent increased from $110.3 million, its result for the 2015 second quarter.

The company's underwriting income for the second quarter of 2016 was $111.7 million, a 6.3 percent increase from the result for the same period last year, $105.1 million.

Arch Capital's gross written premiums (GWP) increased 10.9 percent to $1.3 billion over the quarter, compared to $1.2 billion for the same period in 2015.

GWP for the insurance segment increased by 2.3 percent to $762 million, compared to $745 million for the same period last year.

Similarly, the GWP for the reinsurance segment increased 20.4 percent to $412 million, compared to $342.1 million for 2015.

The profitability of Arch's underwriting declined slightly, with its combined ratio increasing by 1.7 points to 91.4 percent.