The Pembroke-headquartered insurance group reported a decrease in net income available to Arch common shareholders – from $427.8 million in Q1 2021 to $185.6 million this time around. After-tax operating income available to common shareholders, meanwhile, grew to $422 million from $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 $116 million to $142 million in the latest set of results. Likewise, operating income went up from $83 million to $180 million.
Bermuda-based Everest saw a decline in net income in the first quarter, from $341.9 million in 2021 to this year’s $297.8 million. Net operating income, however, rose from $260.2 million in the previous year to $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 $529 million. In the same period in 2021, Markel posted a comprehensive income to shareholders worth $359 million.