Latest revenue
$3.99B
as of 2026-03-31
Latest net income
$1.05B
as of 2026-03-31
Net margin
26.3%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $33.65B
- Enterprise value
- $2.12B
- P/E (trailing)
- 7.6×
- Forward P/E
- —
- P/B
- 1.42×
- Dividend yield
- 0.0%
- 52-wk high
- $103.39
- 52-wk low
- $82.44
- Beta
- —
- Shares out
- 349.4M
5-year trend
What this company does
Arch Capital is a Bermuda-based insurer that writes property & casualty insurance, reinsurance, and mortgage insurance through subsidiaries worldwide. The company earns revenue primarily from net premiums (about $4 billion last quarter), supplemented by investment income on its $47 billion portfolio. Profitability jumped sharply, with net income rising 82% year-over-year to $1.05 billion as loss expenses fell, and Arch accelerated buybacks to $813 million, more than triple the prior-year pace.
Key risks
- Premium softening: Q1 net premiums earned fell to $3.99B from $4.19B YoY (-4.8%), signaling pricing/cycle pressure in P&C reinsurance.
- AOCI swung to -$333M from +$5M as $338M unrealized investment losses hit a $32.4B fixed-maturity book amid rate volatility.
- Aggressive buybacks: $813M repurchased in Q1 vs. $229M prior year, depleting capital as treasury stock rose to $7.2B during softening market.
Profitability
Net margin
22.1%
10.7%Return on equity
18.2%
12.3%Return on assets
5.6%
8.7%Leverage
Debt / equity
2.27×
5.5%Long-term debt / equity
0.11×
14.0%Debt / assets
69.5%
1.7%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $3.99B | -4.8% | $1.05B | +82.4% | 26.3% |
Q4 2025 2025-12-31 | $7.12B | +9.8% | $1.24B | +32.4% | 17.4% |
Q3 2025 2025-09-30 | $4.29B | +7.9% | $1.35B | +36.6% | 31.5% |
Q2 2025 2025-06-30 | $4.34B | +21.7% | $1.24B | -2.5% | 28.5% |
Q1 2025 2025-03-31 | $4.19B | +22.4% | $574.0M | -48.8% | 13.7% |
Q4 2024 2024-12-31 | $6.48B | — | $935.0M | — | 14.4% |
Q3 2024 2024-09-30 | $3.97B | +22.2% | $988.0M | +36.7% | 24.9% |
Q2 2024 2024-06-30 | $3.56B | +20.2% | $1.27B | +89.1% | 35.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Fire, Marine & Casualty Insurance · SIC 6331
Your notes
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Insider activity
Insider buying
$516.0K
Insider selling
$29.0M
Net activity
−$28.5M
Distinct insiders
7
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ACGL
Institutional value
$19.31B
Total shares held
207.8M
Distinct holders
662
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 31.4M | $3.01B | — | New |
| 2 | Artisan Partners Limited Partnership | 22.7M | $2.18B | — | New |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 22.6M | $2.17B | — | New |
| 4 | VANGUARD PORTFOLIO MANAGEMENT LLC | 14.7M | $1.41B | — | New |
| 5 | WCM INVESTMENT MANAGEMENT, LLC | 12.6M | $1.21B | — | New |
| 6 | JPMORGAN CHASE & CO | 6.8M | $648.5M | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 4.2M | $400.6M | — | New |
| 8 | Madison Asset Management, LLC | 4.1M | $391.3M | — | New |
| 9 | Invesco Ltd. | 4.1M | $389.7M | — | New |
| 10 | Allspring Global Investments Holdings, LLC | 3.6M | $346.8M | — | New |
| 11 | Legal & General Group Plc | 3.3M | $315.6M | — | New |
| 12 | PRINCIPAL FINANCIAL GROUP INC | 3.3M | $314.3M | — | New |
| 13 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 3.2M | $305.2M | — | New |
| 14 | FIRST TRUST ADVISORS LP | 2.6M | $252.1M | — | New |
| 15 | COOKE & BIELER LP | 2.2M | $214.8M | — | New |
| 16 | ENVESTNET ASSET MANAGEMENT INC | 2.2M | $213.3M | — | New |
| 17 | Boston Partners | 2.1M | $200.9M | — | New |
| 18 | DEUTSCHE BANK AG\ | 2.0M | $193.8M | — | New |
| 19 | VANGUARD FIDUCIARY TRUST CO | 2.0M | $191.6M | — | New |
| 20 | UBS Group AG | 1.9M | $184.9M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Net premiums earned fell 5% YoY to $3.99B—is this reflecting deliberate cycle management or share loss in softening reinsurance markets?
- 2
Loss & LAE dropped $498M YoY to $2.09B; how much was favorable prior-year development versus current accident-year assumptions you'll defend?
- 3
You repurchased $813M of stock this quarter versus $229M a year ago—why accelerate buybacks while AOCI swung $338M negative?