Arch Capital's net income hit by foreign exchange losses

Currency fluctuations have hit Bermuda-based insurer and reinsurer Arch Capital Group Ltd.'s net income in the first quarter of 2016, reported The Royal Gazette.

Arch Capital's net income fell about 46% to $149 million in the quarter. The firm incurred pre-tax foreign exchange losses of $22 million. Arch Capital's gross written premiums increased 6% to $1.39 billion.

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