--- title: "Arch Capital Pref Share ACGLN 4.55 Perp 06/11/26 G | 8-K: FY2026 Q1 Revenue: USD 4.045 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/284442053.md" datetime: "2026-04-28T20:15:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284442053.md) - [en](https://longbridge.com/en/news/284442053.md) - [zh-HK](https://longbridge.com/zh-HK/news/284442053.md) generator: "portal-rs" --- # Arch Capital Pref Share ACGLN 4.55 Perp 06/11/26 G | 8-K: FY2026 Q1 Revenue: USD 4.045 B Revenue: As of FY2026 Q1, the actual value is USD 4.045 B. EPS: As of FY2026 Q1, the actual value is USD 2.88. EBIT: As of FY2026 Q1, the actual value is USD 357 M. ### Consolidated Operational Metrics - **Net Income Available to Common Shareholders**: Arch Capital Group Ltd. reported net income available to common shareholders of $1,037 million for Q1 2026, an 83.9% increase from $564 million in Q1 2025. This figure was also reported as $1.0 billion for Q1 2026 . - **After-tax Operating Income Available to Common Shareholders**: After-tax operating income available to common shareholders was $901 million for Q1 2026, a 53.5% increase from $587 million in Q1 2025 . - **Annualized Net Income Return on Average Common Equity**: This metric was 17.8% for Q1 2026, up from 11.1% for Q1 2025 . - **Annualized Operating Return on Average Common Equity**: This metric was 15.4% for Q1 2026, up from 11.5% for Q1 2025 . - **Underwriting Income**: Underwriting income increased by 74.6% to $728 million for Q1 2026, compared to $417 million for Q1 2025 . - **Net Premiums Earned**: Net premiums earned decreased by -4.8% to $3,986 million in Q1 2026, from $4,188 million in Q1 2025 . - **Loss Ratio**: The loss ratio improved by -9.4 percentage points, decreasing to 52.4% in Q1 2026 from 61.8% in Q1 2025 . - **Underwriting Expense Ratio**: The underwriting expense ratio was 29.3% for Q1 2026, an increase of 1.0 percentage point from 28.3% for Q1 2025 . This comprises an acquisition expense ratio of 18.3% (flat YoY) and an other operating expense ratio of 11.0% (up 1.0 percentage point YoY) . - **Combined Ratio**: The combined ratio improved by -8.4 percentage points to 81.7% for Q1 2026, from 90.1% for Q1 2025 . - **Combined Ratio Excluding Catastrophic Activity and Prior Year Development**: This ratio was 82.3% for Q1 2026, compared to 81.0% for Q1 2025 . - **Pre-tax Current Accident Year Catastrophic Losses (net of reinsurance and reinstatement premiums)**: These losses amounted to $174 million . - **Favorable Development in Prior Year Loss Reserves (net of related adjustments)**: This development was $200 million . - **Comprehensive Income (Loss)**: Comprehensive income was $709 million in Q1 2026, a -20.0% decrease from $886 million in Q1 2025 . ### Investment Results - **Pre-tax Net Investment Income**: This increased by 7.9% to $408 million for Q1 2026, compared to $378 million for Q1 2025 . - **Net Realized Gains (Losses)**: Net realized losses were - $87 million for Q1 2026, compared to gains of $3 million for Q1 2025 . - **Equity in Net Income of Investments Accounted for Using the Equity Method**: This was $160 million for Q1 2026, compared to $53 million for Q1 2025 . - **Pre-tax Investment Income Yield, at Amortized Cost**: This yield was 3.99% for Q1 2026, compared to 4.16% for Q1 2025 . - **Total Return on Investments**: This was 0.10% for Q1 2026, compared to 2.02% for Q1 2025 . ### Segment Revenue and Operational Metrics #### Insurance Segment - **Gross Premiums Written**: $2,697 million for Q1 2026, a 2.0% increase from $2,645 million for Q1 2025 . - **Net Premiums Written**: $1,906 million for Q1 2026, a -1.4% decrease from $1,933 million for Q1 2025. Adjusting for non-renewal programs related to the MCE Acquisition, net premiums written would have increased by 1.1% . - **Net Premiums Earned**: $1,871 million for Q1 2026, a 0.6% increase from $1,860 million for Q1 2025 . - **Underwriting Income**: $66 million for Q1 2026, compared to - $2 million for Q1 2025 . - **Combined Ratio**: 96.5% for Q1 2026, an improvement of -3.6 percentage points from 100.1% for Q1 2025 . - **Current Accident Year Catastrophic Events (Loss Ratio Impact)**: 4.2 percentage points for Q1 2026, compared to 9.5 percentage points for Q1 2025 . - **Net Favorable Development in Prior Year Loss Reserves (Loss Ratio Impact)**: -0.7 percentage points for Q1 2026, compared to -0.9 percentage points for Q1 2025 . #### Reinsurance Segment - **Gross Premiums Written**: $3,414 million for Q1 2026, a -2.3% decrease from $3,494 million for Q1 2025 . - **Net Premiums Written**: $2,176 million for Q1 2026, a -6.0% decrease from $2,316 million for Q1 2025, primarily due to a reduction in property catastrophe business and lower reinstatement premiums . - **Net Premiums Earned**: $1,831 million for Q1 2026, a -9.7% decrease from $2,028 million for Q1 2025 . - **Underwriting Income**: $441 million for Q1 2026, a 164.1% increase from $167 million for Q1 2025 . - **Combined Ratio**: 75.9% for Q1 2026, an improvement of -15.9 percentage points from 91.8% for Q1 2025 . - **Current Accident Year Catastrophic Events (Loss Ratio Impact)**: 5.2 percentage points for Q1 2026, compared to 18.3 percentage points for Q1 2025 . - **Net Favorable Development in Prior Year Loss Reserves (Loss Ratio Impact)**: -8.3 percentage points for Q1 2026, compared to -5.9 percentage points for Q1 2025 . #### Mortgage Segment - **Gross Premiums Written**: $316 million for Q1 2026, a -3.1% decrease from $326 million for Q1 2025, driven by lower U.S. monthly premium business . - **Net Premiums Written**: $266 million for Q1 2026, flat compared to Q1 2025, reflecting lower cessions on U.S. primary business . - **Net Premiums Earned**: $284 million for Q1 2026, a -5.3% decrease from $300 million for Q1 2025 . - **Underwriting Income**: $221 million for Q1 2026, a -12.3% decrease from $252 million for Q1 2025 . - **Combined Ratio**: 22.3% for Q1 2026, an increase of 6.2 percentage points from 16.1% for Q1 2025 . - **Net Favorable Development of Prior Year Loss Reserves (Loss Ratio Impact)**: -19.2 percentage points for Q1 2026, compared to -20.4 percentage points for Q1 2025, primarily due to better than expected cure rates . - **PMIER Sufficiency Ratio (Arch MI U.S.)**: This ratio was 175% as of March 31, 2026, compared to 186% as of March 31, 2025 . If GSEs had fully implemented updated PMIERs, the pro-forma ratio would have been 173% . - **Insurance In Force (IIF)**: Total IIF was $480,084 million as of March 31, 2026, compared to $494,772 million as of March 31, 2025 . - **Risk In Force (RIF)**: Total RIF was $87,615 million as of March 31, 2026, compared to $88,038 million as of March 31, 2025 . ### Corporate Expenses and Other - **Corporate Expenses**: - $31 million for Q1 2026, compared to - $50 million for Q1 2025, reflecting the benefit of Bermuda qualified refundable tax credits . - **Amortization of Intangible Assets**: - $30 million for Q1 2026, compared to - $49 million for Q1 2025 . - **Interest Expense**: - $37 million for Q1 2026, compared to - $35 million for Q1 2025 . - **Net Foreign Exchange Gains (Losses)**: Net gains were $21 million for Q1 2026, compared to net losses of - $27 million for Q1 2025 . - **Effective Tax Rate on Income Before Income Taxes**: This was 8.6% for Q1 2026, compared to 17.4% for Q1 2025, primarily driven by tax law changes in Bermuda and the United Kingdom . - **Income from Operating Affiliates**: This was $36 million for Q1 2026, compared to $17 million for Q1 2025 . ### Cash Flow - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $1,188 million for the three months ended March 31, 2026, an 18.5% decrease from $1,458 million in Q1 2025 . The report mentions strong operating cash flows but does not provide specific figures for free cash flow . ### Outlook / Guidance - The report does not provide explicit forward-looking guidance or outlook statements regarding future financial performance or operational targets. 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