How much revenue did Arch make in 2025?

Total revenues were $19,929 million in 2025, compared with $17,440 million in 2024, according to its 10-K. Net premiums earned were $17,065 million and net income available to Arch common shareholders was $4,359 million, or $11.60 per diluted share.

Which segment earned the most underwriting income in 2025?

Reinsurance, with underwriting income of $1,558 million in 2025, followed by mortgage with $1,000 million and insurance with $375 million, according to the segment note in its 10-K.

What were Arch's second-quarter 2026 results?

In its July 28, 2026 news release Arch reported net income available to Arch common shareholders of $1.0 billion for the quarter, against $1.2 billion a year earlier, and after-tax operating income, a non-GAAP measure, of $893 million, or $2.56 per share, against $979 million, or $2.58 per share. The combined ratio was 83.5%, against 81.2%.

Does Arch buy back its own shares?

Yes. Under its share repurchase program it repurchased 21.2 million shares in 2025 at an aggregate cost of $1,889.8 million (10-K). Its July 28, 2026 news release reports share repurchases of $1.2 billion in the second quarter of 2026.

Who runs Arch Capital Group?

Nicolas Papadopoulo is Chief Executive Officer and François Morin is Executive Vice President, Chief Financial Officer and Treasurer, according to their certifications in the 10-Q for the quarter ended June 30, 2026. On June 3, 2026 Arch said Maamoun Rajeh, a President reporting to the CEO, would also take responsibility for the Insurance segment.

DalsnaFinance Account

Arch Capital Group $ACGL

Financials · Property & Casualty Insurance · NYSE/NASDAQ

Profile updated Oct 14, 2026

S&P 500 Russell 1000 Bermuda

Create a scorecard

$101.29

+0.81 (+0.81%)

As of Oct 20, 2026, 5:56 PM EDT · cached

Price history

Loading chart…

Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Oct 7, 2026, the first target we tracked for ACGL.

Key facts

52-week range (closes): $84.72 – $106.48 Lowest close Oct 28, 2025, highest Jul 28, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings: Oct 27, 2026, after the close · EPS forecast $2.05 Nasdaq earnings calendar, as of Oct 20, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Nov 1, 2022, replacing Twitter (TWTR) · Elon Musk acquired Twitter. · All S&P 500 changes
Analyst coverage: 1 open price target from 1 firm: Cantor Fitzgerald Approved targets tracked here; see the analyst section below

Arch Capital Group (ACGL) is trading up at $101.29 (+0.81%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Financials sector.

Analyst price targets on ACGL

One firm's current price target on Arch Capital Group: $105 — 4% above the current $101. Each is tracked to its date and scored the same way a member's call is.

Cantor Fitzgerald $94.8 → $105 by Oct 2027 Neutral Oct 7, 2026 via Investing.com · Cantor Fitzgerald's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Arch Capital Group revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Arch Capital Group annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$4.46B	$5.63B	$5.45B	$6.93B	$8.51B	$9.25B	$9.61B	$13.6B	$17.4B	$19.9B
Growth (year over year)	+13.4%	+26.1%	−3.1%	+27.1%	+22.8%	+8.7%	+3.9%	+41.8%	+27.9%	+14.3%
Net income	$692.7M	$619.3M	$758.0M	$1.64B	$1.41B	$2.16B	$1.48B	$4.44B	$4.31B	$4.40B
Net margin	15.5%	11.0%	13.9%	23.6%	16.5%	23.3%	15.4%	32.6%	24.7%	22.1%
EPS (diluted)	$1.78	$1.36	$1.73	$3.87	$3.32	$5.23	$3.80	$11.62	$11.19	$11.60
Balance sheet
Cash and equivalents	$842.9M	$606.2M	$646.6M	$726.2M	$906.4M	$859.0M	$855.0M	$917.0M	$979.0M	$993.0M
Total assets	$29.4B	$32.1B	$32.2B	$37.9B	$43.3B	$45.1B	$48.0B	$58.9B	$70.9B	$79.2B
Total liabilities	$20.1B	$21.8B	$21.8B	$25.6B	$29.3B	$31.5B	$35.1B	$40.6B	$50.1B	$55.0B
Shareholders' equity	$8.25B	$9.20B	$9.44B	$11.5B	$13.1B	$13.5B	$12.9B	$18.4B	$20.8B	$24.2B
Cash flow
Operating cash flow	$1.38B	$1.09B	$1.56B	$2.05B	$2.89B	$3.42B	$3.82B	$5.75B	$6.67B	$6.17B
Capital expenditure	$15.3M	$22.8M	$29.8M	$37.8M	$39.9M	$41.0M	$50.0M	$52.0M	$51.0M	$44.0M
Free cash flow	$1.36B	$1.07B	$1.53B	$2.01B	$2.85B	$3.38B	$3.77B	$5.70B	$6.62B	$6.13B
Share buybacks	$75.3M	$0	$282.8M	$2.87M	$83.5M	$1.23B	$586.0M	$0	$24.0M	$1.89B

RevenueNet incomeNet margin (right axis, %)

Arch Capital Group quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$4.72B	$4.55B	$4.67B	$5.21B	$5.11B	$4.93B	$4.52B	$4.67B
Growth (year over year)	+41.8%	+14.4%	+18.6%	+23.3%	+8.2%	+8.5%	−3.3%	−10.5%
Net income	$988.0M	$935.0M	$574.0M	$1.24B	$1.35B	$1.24B	$1.05B	$1.06B
Net margin	20.9%	20.6%	12.3%	23.7%	26.4%	25.1%	23.2%	22.6%
EPS (diluted)	$2.56	$2.41	$1.48	$3.23	$3.56	$3.33	$2.88	$3.00
Balance sheet
Cash and equivalents	$1.02B	$979.0M	$1.19B	$983.0M	$1.06B	$993.0M	$914.0M	$1.11B
Total assets	$73.7B	$70.9B	$75.2B	$78.8B	$79.2B	$79.2B	$81.4B	$85.2B
Total liabilities	$51.4B	$50.1B	$53.6B	$55.7B	$55.5B	$55.0B	$57.3B	$61.1B
Shareholders' equity	$22.3B	$20.8B	$21.5B	$23.0B	$23.7B	$24.2B	$24.2B	$24.0B
Cash flow
Operating cash flow	$2.02B	$1.57B	$1.46B	$1.12B	$2.19B	$1.40B	$1.19B	$1.32B
Capital expenditure	$12.0M	$13.0M	$9.00M	$12.0M	$12.0M	$11.0M	$8.00M	$14.0M
Free cash flow	$2.01B	$1.56B	$1.45B	$1.11B	$2.17B	$1.39B	$1.18B	$1.31B
Share buybacks	$0	$24.0M	$196.0M	$163.0M	$732.0M	$798.0M	$783.0M	$1.17B

From Arch Capital Group's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Arch Capital Group vs the Financials sector and the S&P 500

Arch Capital Group's latest reported figures next to the median of the other 75 S&P 500 Financials companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Arch Capital Group compared with the median Financials company and the median S&P 500 company
Measure	Arch Capital Group	Financials (75 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+14.3%	+7.2%	+7.0%
Net margin, latest fiscal year	22.1%	19.3%	12.9%
Dividend per share, latest fiscal year	$5.00	$2.35	$2.40
Share price change, 1 year	+16.5%	+8.9%	+7.5%

Arch Capital Group: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Arch Capital Group included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 75/496, net margin 75/496, dividend per share 61/349, 1-year price change 75/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 61 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda exempted public company which writes insurance, reinsurance and mortgage insurance on a worldwide basis, with a focus on specialty lines, the segment of the insurance industry where the more difficult and unusual risks are written. The company is headquartered in Bermuda and operates globally in 60 offices in North America, Europe, Asia and Australia.

Source: Wikipedia — Arch Capital Group

Headquarters: Pembroke, Bermuda From SEC filings, Oct 2026

Company profile

Arch Capital Group Ltd. describes itself in its annual report for 2025 (Form 10-K) as a publicly listed Bermuda exempted company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch Capital was formed in September 2000, and its address on the 10-K cover is Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda. Its fiscal year ends December 31. Its common shares trade on Nasdaq as ACGL, and depositary shares representing interests in its 5.45% Series F and 4.55% Series G preferred shares trade as ACGLO and ACGLN. It had approximately 8,000 employees globally as of February 19, 2026, compared with around 7,200 a year earlier (10-K).

Arch classifies its businesses into three segments, insurance, reinsurance and mortgage, and measures each segment's performance by underwriting income or loss. According to the segment note in its 10-K for 2025, the insurance segment writes commercial insurance lines with a focus on specialty insurance products; the reinsurance segment offers reinsurance on a worldwide basis, including casualty, marine and aviation, specialty, property catastrophe and other property lines; and the mortgage segment consists of U.S. primary mortgage insurance written predominantly on loans sold to Fannie Mae and Freddie Mac, reinsurance and underwriting services related to U.S. credit-risk transfer business, and international mortgage insurance and reinsurance covering loans primarily in Australia and Europe. On August 1, 2024 Arch completed the acquisition of Allianz's U.S. Middle Market Property & Casualty Insurance and U.S. Entertainment Property and Casualty Insurance business, which it calls the MCE Acquisition (10-K).

For 2025 the consolidated statements of income report total revenues of $19,929 million (2024: $17,440 million), including net premiums earned of $17,065 million and net investment income of $1,625 million, and net income available to Arch common shareholders of $4,359 million (2024: $4,272 million), or $11.60 per diluted share (2024: $11.19). Net cash provided by operating activities was $6,172 million in 2025, against $6,673 million in 2024. At December 31, 2025 total assets were $79,241 million and total shareholders' equity was $24,206 million. Under its share repurchase program Arch bought back 21.2 million shares in 2025 at an aggregate cost of $1,889.8 million (10-K).

In its news release of July 28, 2026 for the second quarter of 2026, Arch reported net income available to Arch common shareholders of $1.0 billion, against $1.2 billion in the second quarter of 2025, and after-tax operating income available to Arch common shareholders, a non-GAAP measure, of $893 million, or $2.56 per share, against $979 million, or $2.58 per share. Gross premiums written were $6,126 million (second quarter of 2025: $6,196 million) and net premiums written $4,049 million (2025: $4,348 million); the combined ratio was 83.5%, against 81.2%. Book value per common share was $68.04 at June 30, 2026, and share repurchases in the quarter were $1.2 billion. The Form 10-Q for the quarter reports total revenues of $9,189 million for the six months ended June 30, 2026 (2025: $9,886 million) and net income available to Arch common shareholders of $2,084 million (2025: $1,791 million). Annual revenue rows below run to 2025, the latest year covered by a filed 10-K.

On June 2, 2026 Arch priced $600,000,000 of 5.250% senior notes due 2036 and $1,400,000,000 of 5.950% senior notes due 2056, saying it would use the proceeds to retire the $500,000,000 of 4.011% Senior Notes due 2026 issued by Arch Capital Finance LLC and to pay for tender offers for two other series of notes; the offering was completed on June 9, 2026 and the tender offers on June 16, 2026 (company releases). Senior notes on the balance sheet were $4,286 million at June 30, 2026, against $2,729 million at December 31, 2025 (10-Q). On June 3, 2026 Arch announced that Maamoun Rajeh's role as President would expand to include the Insurance segment, in addition to Reinsurance and Mortgage, that he continues to report to Chief Executive Officer Nicolas Papadopoulo, and that David Gansberg was stepping down as a President and leaving the company. François Morin signed the certification in the 10-Q for the quarter ended June 30, 2026 as Executive Vice President, Chief Financial Officer and Treasurer (Exhibit 31.2).

Summary sources:¹²³⁴⁵⁶⁷⁸⁹¹⁰¹¹¹²¹³¹⁴

$19,929 million⁴

Total revenues, 2025 (year ended December 31, 2025)

$17,065 million⁴

Net premiums earned, 2025

$1,625 million⁴

Net investment income, 2025

$9,370 million⁴

Losses and loss adjustment expenses, 2025

$4,359 million⁴

Net income available to Arch common shareholders, 2025

$11.60⁴

Diluted net income per common share, 2025

$6,172 million⁵

Net cash provided by operating activities, 2025

$1,889 million⁵

Purchases of common shares under share repurchase program, 2025 (cash flow statement)

$46,504 million⁶

Total investments, December 31, 2025

$33,547 million⁶

Reserve for losses and loss adjustment expenses, December 31, 2025

$79,241 million⁶

Total assets, December 31, 2025

$24,206 million⁶

Total shareholders' equity, December 31, 2025

8,000¹

Employees, February 19, 2026 (approximate)

355,803,320²

Common shares outstanding, February 23, 2026 (10-K cover)

$9,189 million⁹

Total revenues, six months ended June 30, 2026 (10-Q)

$4,668 million⁹

Total revenues, quarter ended June 30, 2026 (10-Q)

$3.00⁹

Diluted net income per common share, quarter ended June 30, 2026 (10-Q)

$893 million, or $2.56 per share⁸

After-tax operating income available to Arch common shareholders, second quarter of 2026 (non-GAAP, as reported by Arch)

$6,126 million⁸

Gross premiums written, second quarter of 2026 (news release)

83.5%⁸

Combined ratio, second quarter of 2026 (news release)

$68.04⁸

Book value per common share, June 30, 2026 (news release)

$85,179 million¹⁰

Total assets, June 30, 2026 (10-Q)

$4,286 million¹⁰

Senior notes, June 30, 2026 (10-Q)

341,229,126¹⁵

Common shares outstanding, July 30, 2026 (10-Q cover)

Revenue by fiscal year, as reported in 10-K

Fiscal year	Revenue (as reported in 10-K)	Reported as	Filed
2021	$9,249,980 thousand¹⁶	Form 10-K for fiscal year 2021 (year ended December 31, 2021), total revenues, in thousands as filed	Feb 25, 2022
2022	$9,614,808 thousand¹⁷	Form 10-K for fiscal year 2022 (year ended December 31, 2022), total revenues, in thousands as filed	Feb 24, 2023
2023	$13,634 million¹⁸	Form 10-K for fiscal year 2023 (year ended December 31, 2023), total revenues, in millions as filed	Feb 23, 2024
2024	$17,440 million¹⁹	Form 10-K for fiscal year 2024 (year ended December 31, 2024), total revenues, in millions as filed	Feb 27, 2025
2025	$19,929 million⁴	Form 10-K for fiscal year 2025 (year ended December 31, 2025), total revenues, in millions as filed	Feb 26, 2026

Segments and products

Insurance: In millions as filed, 2025: gross premiums written $10,435, net premiums written $7,798, net premiums earned $7,771 and underwriting income $375, with a combined ratio of 95.20%. In 2024 net premiums earned were $6,627, underwriting income $345 and the combined ratio 94.80% (10-K, segment note).²⁰
Reinsurance: In millions as filed, 2025: gross premiums written $11,149, net premiums written $7,618, net premiums earned $8,122 and underwriting income $1,558, with a combined ratio of 80.80%. In 2024 net premiums earned were $7,242, underwriting income $1,222 and the combined ratio 83.20% (10-K, segment note).²⁰
Mortgage: In millions as filed, 2025: gross premiums written $1,305, net premiums written $1,060, net premiums earned $1,172 and underwriting income $1,000, with a combined ratio of 14.60%. In 2024 net premiums earned were $1,231, underwriting income $1,094 and the combined ratio 12.60% (10-K, segment note).²⁰
Segments, second quarter of 2026: As reported in the July 28, 2026 news release, in millions: Insurance net premiums written $1,933, underwriting income $27, combined ratio 98.5%; Reinsurance net premiums written $1,844, underwriting income $410, combined ratio 77.5%; Mortgage net premiums written $272, underwriting income $220, combined ratio 22.8%.⁸

Risks

Catastrophes and loss severity: Among the factors Arch says could cause results to differ from expectations are greater frequency or severity of unpredictable natural and man-made catastrophic events, and claims for natural catastrophes or severe economic events in its insurance, reinsurance and mortgage businesses that could cause large losses and substantial volatility in its results (10-K, cautionary note regarding forward-looking statements).¹
Reserves and estimates: The 10-K lists the adequacy of the company's loss reserves, greater than expected loss ratios and adverse development on claim liabilities, and the accuracy of the estimates and judgments used in preparing its financial statements as factors that could affect results (10-K, cautionary note).¹
Economic and market conditions: Arch names general economic and market conditions, including inflation, interest rates, unemployment, housing prices, foreign exchange rates, tariffs and recession, together with conditions in the insurance and reinsurance markets and competition on pricing, capacity and coverage terms (10-K, cautionary note).¹
Reinsurance and counterparties: The 10-K lists the availability and cost of reinsurance to manage its net exposure, and the failure of reinsurers, managing general agents, third party administrators or others to meet their obligations to Arch (10-K, cautionary note).¹
Cyber events and technology: Arch says an incident, disruption or other cyber event on its systems or those of its business partners, including one involving the use of artificial intelligence technologies, could harm its business or expose it to litigation (10-K, cautionary note).¹
Tax, regulation and currency: The 10-K lists statutory and regulatory developments, including legislation affecting Bermuda-headquartered companies, the OECD Pillar I and Pillar II initiatives and the enactment of Bermuda corporate income tax, as well as volatility in shareholders' equity from foreign currency fluctuations (10-K, cautionary note).¹

Frequently asked questions

What does Arch Capital Group do?: Arch Capital Group Ltd. is a Bermuda exempted company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries, according to its 10-K for 2025. It reports three segments: insurance, reinsurance and mortgage.
Where is Arch Capital Group based?: Its address on the cover of its 10-K for 2025 is Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda. Arch Capital was formed in September 2000.
How much revenue did Arch make in 2025?: Total revenues were $19,929 million in 2025, compared with $17,440 million in 2024, according to its 10-K. Net premiums earned were $17,065 million and net income available to Arch common shareholders was $4,359 million, or $11.60 per diluted share.
Which segment earned the most underwriting income in 2025?: Reinsurance, with underwriting income of $1,558 million in 2025, followed by mortgage with $1,000 million and insurance with $375 million, according to the segment note in its 10-K.
What were Arch's second-quarter 2026 results?: In its July 28, 2026 news release Arch reported net income available to Arch common shareholders of $1.0 billion for the quarter, against $1.2 billion a year earlier, and after-tax operating income, a non-GAAP measure, of $893 million, or $2.56 per share, against $979 million, or $2.58 per share. The combined ratio was 83.5%, against 81.2%.
What is the MCE Acquisition?: On August 1, 2024 Arch completed the acquisition of Allianz's U.S. Middle Market Property & Casualty Insurance and U.S. Entertainment Property and Casualty Insurance business, which its 10-K calls the MCE Acquisition.
Does Arch buy back its own shares?: Yes. Under its share repurchase program it repurchased 21.2 million shares in 2025 at an aggregate cost of $1,889.8 million (10-K). Its July 28, 2026 news release reports share repurchases of $1.2 billion in the second quarter of 2026.
Where are Arch's shares listed?: Its common shares trade on Nasdaq under the symbol ACGL. Depositary shares representing interests in its 5.45% Series F and 4.55% Series G preferred shares trade on Nasdaq as ACGLO and ACGLN (10-K cover).
How many people work at Arch?: Approximately 8,000 employees globally as of February 19, 2026, compared with around 7,200 a year earlier, according to its 10-K for 2025.
Who runs Arch Capital Group?: Nicolas Papadopoulo is Chief Executive Officer and François Morin is Executive Vice President, Chief Financial Officer and Treasurer, according to their certifications in the 10-Q for the quarter ended June 30, 2026. On June 3, 2026 Arch said Maamoun Rajeh, a President reporting to the CEO, would also take responsibility for the Insurance segment.