Everest, Arch declare Q2 earnings

Everest, Arch announce Q2 earnings




Financial results have come in from Bermuda, the base of global insurers Everest Re Group and Arch Capital Group.

Here’s how the two firms stack up in terms of earnings in the second quarter and first half:




Metric



Arch Capital Group



Everest Re Group





Q2 2022 net income



US$394.2 million



US$123 million





Q2 2021 net income



US$663.8 million



US$680 million





H1 2022 net income



US$579.8 million



US$420 million





H1 2021 net income



US$1.1 billion



US$1 billion





Q2 2022 operating income



US$506.5 million



US$386 million





Q2 2021 operating income



US$407.2 million



US$587 million





H1 2022 operating income



US$928.5 million



US$792 million





H1 2021 operating income



US$647 million



US$847 million




 

In the three-month span ended June 30, Arch’s insurance segment enjoyed a 98% increase in underwriting income, while the reinsurance operations posted a 45% rise. Consolidated underwriting income for the company stood at US$535.4 million.

Meanwhile Everest president and chief executive Juan C. Andrade commented: “Everest’s solid second quarter results reflect the successful execution of our strategy with strong momentum across our key performance objectives. Our focus on underwriting profitability and operational efficiency, supported by our investment portfolio delivered US$386 million in net operating income and a 15.3% operating ROE (return on equity).

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“We expanded margins across our insurance and reinsurance businesses with disciplined growth, continued to scale our insurance platform, and in reinsurance capitalized on strategic market opportunities that improved the diversity and economics of our book, while reducing volatility.”