Arch Capital's profit more than triples

Bermuda-based insurer and reinsurer Arch Capital Group Ltd.'s net income more than tripled to $203.5 million in the fourth quarter of 2017 from nearly $63.5 million in the fourth quarter of 2016, The Royal Gazette reported. Arch Capital's pre-tax catastrophe losses, net of reinsurance and reinstatement premiums, totaled $800,000. Gross written premiums grew nearly 26% year over year to $1.5 billion. Arch Capital's net income declined more than 16% to $556.5 million in 2017, compared with more than $664.5 million in 2016.

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