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Arch Capital Group Ltd.
ACGL.OISIN: BMG0450A1053SEDOL: 2740542 |
Rating: BUY |
Target Price: 67.24 USD |
Investment Horizon: 6 to 12 months |
2Q 09 News Alert
Arch Capital Group Ltd.'s (Arch Capital), adjusted1 total revenues declined marginally in 2Q 09, while adjusted net income declined 12.5% y-o-y. We remain impressed by the company's well diversified portfolio of insurance and reinsurance services which we believe establishes a strong risk profile in the event of downturn in any one segment. Overall, with the company continuing to demonstrate sound fundamentals, we view Arch Capital as an attractive investment…
1Q 09 News Alert
Arch Capital Group Ltd.’s (Arch Capital), adjusted1 total revenues as well as bottom-line were in line with our expectations in 1Q 09. Going forward, although we continue to expect a decline in premiums in FY 2009, we remain encouraged by the company’s well diversified portfolio of insurance and reinsurance services which we believe establishes a strong risk profile in the event of downturn in any one segment....
4Q 08 & FY 2008 Update Report
Going forward, we expect premium rates to improve in some lines of the US insurance and reinsurance market, following the massive losses triggered by hurricane activities and large investment losses. Global reinsurance prices are up for January 2009 renewals, with the company indicating that its reinsurance business has been supported by “the flight to diversification and the finite capacity availability in the CAT area”....
Company News Alert
The common stock price has declined significantly since our supplement to the 3Q 08 update report, impacted by weak 4Q 08 results, and reflecting general weakness in global financial markets and specifically in the insurance sector, as fears over capital reserve levels grip the market. Although the impact of deteriorating economic conditions will be significant, we believe that hardening premium rates will provide some support to the company’s…
4Q 08 & FY 2008 News Alert
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Arch Capital Group Ltd.’s (Arch Capital) adjusted1 total revenues exceeded our estimate due to higherthan- expected net premiums earned in 4Q 08. Despite significant reported losses, adjusted net income was broadly in line with our expectation as higher-than-expected top-line partially offset higher-thanexpected total claims and underwriting expenses....
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