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PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Monday reported fourth-quarter profit of $935 million.
The Pembroke, Bermuda-based company said it had profit of $2.42 per share. Earnings, adjusted for non-recurring gains, were $2.26 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The property and casualty insurer posted revenue of $4.55 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.28 billion.
For the year, the company reported profit of $4.31 billion, or $11.19 per share. Revenue was reported as $17.44 billion.
Arch Capital shares have declined 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $91.46, a climb of 11% 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