Results season continues with Arch Capital Group, Markel Corporation, AXIS Capital Holdings, and Everest Re Group publishing their respective financial results for the first quarter of 2022.
The Pembroke-headquartered insurance group reported a decrease in net income available to Arch common shareholders – from US$427.8 million in Q1 2021 to US$185.6 million this time around. After-tax operating income available to common shareholders, meanwhile, grew to US$422 million from US$239.8 million previously.
For the quarter ended March 31, fellow Bermuda provider AXIS Capital posted a higher net income available to common shareholders. The figure improved from last year’s US$116 million to US$142 million in the latest set of results. Likewise, operating income went up from US$83 million to US$180 million.
Bermuda-based Everest saw a decline in net income in the first quarter, from US$341.9 million in 2021 to this year’s US$297.8 million. Net operating income, however, rose from US$260.2 million in the previous year to US$405.8 million in Q1 2022.
US insurer Markel took a beating in the three-month span, suffering a comprehensive loss to shareholders to the tune of US$529 million. In the same period in 2021, Markel posted a comprehensive income to shareholders worth US$359 million.