Arch Capital Group reports healthy 2006 earnings

Buoyed by a relatively quieter hurricane season in 2006 than in 2005, Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders was US$185.8 million for 2006 Q3.In contrast, the group reported a net loss of US$86.3 million for 2005 Q3.The company’s combined operating ratio of 84.3% in 2006 Q3 represented a return to normal from the company’s COR of 117.7% in 2005 Q3, when record-setting hurricanes resulted in unprecedented damage losses.The reinsurance segment of the group reported net premiums written totaling US$1.138 billion during the nine months ending September 2006. The reinsurance segment in Canada accounted for $US25.07 million of this total. During the same period in 2005, the Canadian Arch reinsurance group reported net written premiums of US$59.6 million.The group’s insurance segment reported net premiums written of US$1.277 billion in the nine months ending September 2006. Leading the way was the company’s property. marine and aviation division, which recorded net premiums written of US$107.4 million in 2006 Q3 up from US$46.4 million in 2005 Q3.