Arch Capital Group (ACGL) Q2 2026 earnings summary

Executive summary

• Net income available to common shareholders was $1.0 billion ($3.00 per share), down from $1.2 billion ($3.23 per share) in Q2 2025, with an 18.0% annualized net income return on average common equity.

• After-tax operating income was $893 million ($2.56 per share), down from $979 million ($2.58 per share) in Q2 2025, with a 15.3% annualized operating return on average common equity.

• Book value per common share rose 2.8% sequentially to $68.04 at June 30, 2026.

• Share repurchases totaled $1.2 billion in the quarter.

Financial highlights

• Gross premiums written were $6.13 billion, down 1.1% year-over-year; net premiums written were $4.05 billion, down 6.9%.

• Net investment income increased to $417 million from $405 million year-over-year.

• Net realized losses were $17 million, compared to gains of $229 million in Q2 2025.

• Pre-tax current accident year catastrophic losses were $201 million.

• Favorable prior year loss reserve development was $165 million.

Outlook and guidance

• Management highlighted strong underwriting performance and competitive advantages in specialty insurance, mortgage, and reinsurance.