- Arch Capital reported after-tax operating income of $979 million for Q2 2025, with operating earnings per share of $2.58 and an annualized operating return on average common equity of 18.2%.
- Book value per share grew by 7.3% in the quarter and 11.4% year-to-date, reflecting strong execution and long-term value creation.
- Mortgage segment delivered $238 million of underwriting income despite low mortgage originations, supported by a strong global in-force portfolio and high persistency.
- Net investment income rose 7% from the first quarter to $405 million, with overall yields remaining elevated.
- Net premium written surpassed $2 billion in the Property and Casualty Insurance group, up 30.7% year-over-year, driven largely by the acquisition of U.S. middle market and entertainment businesses.
- Reinsurance segment generated $451 million in underwriting income with over $2 billion in net premium written, showing 8.7% growth in gross written premium year-over-year.
- The combined ex-cat accident year combined ratio was 80.9%, down 10 basis points from last quarter, including $139 million of favorable prior year development.
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- Enact announced a significant increase in its expected capital returns for 2025 to approximately $400 million, up from previous guidance.
- The decision reflects strong credit performance, robust new insurance written, and a strong balance sheet.
- Final capital return amount and form will depend on business performance, market conditions, and regulatory approvals.
- Attritional combined ratio improved 2.3 points year-over-year to 90.9% in the first half, driven by improvements in loss ratio, acquisition costs, and operating expenses.
- Core combined ratio improved by 3.8 points year-over-year to 89.5% in Q2, marking the 11th consecutive quarter of underwriting profit.
- Gross written premiums grew 10% in Q2 and 14% year-to-date, with net premiums growing 8% in Q2 and 14% in the first half.
- Half year underwriting income was $96 million with core combined ratio of 92.4%, showing slight improvement despite catastrophe losses.
- Insurance & Services segment saw net premium growth of 15% in Q2, outpacing gross premium growth due to increased retention.
- Net investment income was $68 million in Q2, tracking in line with full-year guidance of $265 million to $275 million.
- Second quarter BSCR ratio was 223%, within target range, supporting organic growth opportunities.
- SiriusPoint delivered strong Q2 2025 results with an underlying return on equity (ROE) of 17%, exceeding the target range of 12% to 15%.
- Underlying earnings per share increased over 100% year-over-year to $0.66 in Q2; diluted book value per share grew 4% in Q2 and 10% year-to-date.
- Year-to-date underlying ROE was 15.4%, at the upper end of the target range despite losses from aviation and California wildfires.
Dafinchi