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International

Arch to take $38 million hit from reinsurance losses

June 09, 2017 Reprints

Bermuda-based insurer and reinsurer Arch Capital Group Ltd. has said that its profit for the second quarter will be reduced by $38 million due to reinsurance losses from its property facultative reinsurance book of business, The Royal Gazette reported. "Such activity related to losses incurred on a small number of contracts across multiple underwriting years and represents an unusually high level of activity for the property facultative reinsurance unit," Arch Capital Group said.

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Arch to take $38 million hit from reinsurance losses

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