Arch Capital’s profits suffer in Q3

The profits of re/insurer Arch Capital has taken a dive in the third quarter of the year.

The Bermuda-based company reported a net income of $74.5 million for the third quarter of 2015, compared with $223.2 million for the third quarter of last year.

The firm’s combined ratio was also up in Q3 of this year to 89.7 percent, compared with 88.5 percent in the same time period of last year.

Arch Capital’s gross written premiums increased however to $1.16 billion in the third quarter of this year, compared with $1.14 billion in the third quarter of 2014.