BUZZ-Arch Capital falls after Q4 profit drop

Reuters
02-11
BUZZ-Arch Capital falls after Q4 profit drop

** Insurer Arch Capital Group's ACGL.O shares fall over 4% to $87.79 in morning trading

** Co reported a more than 60% fall in quarterly profit on Monday

** Profit available to common shareholders was $925 million, or $2.42 per share, for the three months ended December 31, compared with $2.32 billion, or $6.12 per share, last year

** Co's losses and loss adjustment expenses jumped 45.6% to $2.38 bln

** Co forecast its share of the California wildfires-related losses between $450 million and $550 million

** Thirteen of 17 brokerages rate the stock "buy" or higher, and 4 "hold"; their median PT is $120 - data compiled by LSEG

** Including session's moves, ACGL shares down over 4% YTD; stock rose 30.8% in 2024

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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