Arch Capital Group Ltd
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+ FollowMarket Cap$36.29B
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Earnings Call Q3 2026
October 28, 2026 - AI Summary
Very strong Q3 performance + strong underlying profitability
- After-tax operating income: $910m ($2.67/share); annualized operating ROACE ~16%.
- Segment underwriting income: Insurance $108m (combined ratio 94.4%, current accident year excl. cats 89.2%); Reinsurance $393m (combined ratio 78.3%); Mortgage $201m.
- Consolidated: ex-cat accident year combined ratio 81.2% (up 70 bps YoY), driven by favorable prior-year development of $179m pre-tax (about 4.5 combined ratio points).
- Catastrophe losses (net of reinsurance & reinstatement): $234m; Morocco/geo variety including Iran conflict impacts.
Cycle management: disciplined underwriting + restrained growth in competitive markets
- Management emphasized “we are led by returns, not premium growth.”
- Insurance: Gross premiums written +7.8% YoY, net +2.7% YoY; ytd (adjusted for planned middle-market reduction) gross +4.2%, net +1.6%—i.e., low single-digit underlying growth expectation.
- Reinsurance: Gross premiums written ~-8% YoY due to abundant capacity; focus on reducing participation and leveraging third-party capital rather than chasing volume.
Insurance growth outlook (incl. 2027 framing)
- Company’s view: insurance remains broadly attractive; expected underlying growth stays “low single digits” (including into the next ~15 months), with opportunities in casualty/specialty.
- Headwinds: continued pressure in property/short-tail, plus moderation in some casualty pricing pockets; they also referenced prior-year headwinds like non-renewals (e.g., program business areas previously discussed).
- For 2027 vs 2026, management implied a more supportive environment than 2026, including the ability to regain growth where rate/terms reset (especially via middle-market U.S. opportunities).
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$96.99
12.3% downside
Current Fair Value
12.3% downsideOvervalued by 12.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $36.29 Billion |
|---|---|
| Enterprise Value | $47.29 Billion |
| Earnings per Share | $11.84 |
| Beta | 0.26 |
| Outstanding Shares | 335,800,000 |
Return
| Return on Equity | 18.21% |
|---|---|
| Return on Assets | 6.12% |
| Return on Invested Capital | 5.25% |
Valuation & Multiples
| P/E Ratio | 8.59 |
|---|---|
| PEG | -36.82 |
| Price to Sales | 2.77 |
| Price to Book Ratio | 1.56 |
| Enterprise Value to Revenue | 3.51 |
| Enterprise Value to EBIT | 12.59 |
| Enterprise Value to Net Income | 10 |
| Total Debt to Enterprise | 0.26 |
| Debt to Equity | 0.5 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 27, 2026
EPS Estimate
$2.31
Consensus analyst estimateRevenue Estimate
$4.06 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 8, 2027
EPS Estimate
$2.54
Consensus analyst estimateRevenue Estimate
$3.90 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 180.33% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.73%▼ 86.94% |
|---|---|
| Total Invested | $1.50B▼ 95.09% |
| Investors Holding | 304▼ 624.00% |
About Arch Capital Group Ltd
4,500 employees
CEO: Marc Grandisson
Arch Capital Group Ltd., a Bermuda-based company with approximately $15.2 billion in capital at Sept. 30, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.