Arch Capital: Q2 Earnings Snapshot

PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Arch Capital Group Ltd. (ACGL) on Tuesday reported second-quarter profit of $1.06 billion.

On a per-share basis, the Pembroke, Bermuda-based company said it had net income of $3. Earnings, adjusted for investment gains, were $2.56 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.

The property and casualty insurer posted revenue of $4.67 billion in the period. Its adjusted revenue was $4.43 billion, missing Street forecasts. Five analysts surveyed by Zacks expected $4.58 billion.

Arch Capital shares have risen 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $106.42, a climb of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACGL at https://www.zacks.com/ap/ACGL