ARCH CAPITAL GROUP LTD. (ACGL) financial statements: income statement, balance sheet and cash flow

ARCH CAPITAL GROUP LTD.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), ARCH CAPITAL GROUP LTD. reported revenue of $19.9B (+14.3% year on year) and net income of $4.4B (+2.0% year on year).

Income statement

ARCH CAPITAL GROUP LTD. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net premiums earned	$17.1B	$15.1B	$12.4B	$9.7B
Net investment income	$1.6B	$1.5B	$1.0B	$496.5M
Net realized gains (losses)	$464.0M	$197.0M	($165.0M)	($662.7M)
Other underwriting income	$217.0M	$26.0M	$31.0M	$13.2M
Equity in net income of investments accounted for using the equity method	$504.0M	$580.0M	$278.0M	$115.9M
Other income (loss)	$54.0M	$42.0M	$27.0M	($26.2M)
Total revenues	$19.9B	$17.4B	$13.6B	$9.6B
Losses and loss adjustment expenses	$9.4B	$8.3B	$6.2B	$5.0B
Acquisition expenses	$3.2B	$2.7B	$2.3B	$1.7B
Other operating expenses	$1.8B	$1.5B	$1.3B	$1.1B
Corporate expenses	$132.0M	$200.0M	$102.0M	$95.5M
Amortization of intangible assets	$193.0M	$235.0M	$95.0M	$106.2M
Interest expense	$148.0M	$141.0M	$133.0M	$130.3M
Net foreign exchange losses (gains)	$128.0M	($75.0M)	$60.0M	($100.9M)
Total expenses	$14.9B	$13.0B	$10.2B	$8.1B
Income before income taxes and income (loss) from operating affiliates	$5.0B	$4.5B	$3.4B	$1.5B
Current tax expense (benefit)	$586.0M	$397.0M	$288.0M	$201.2M
Deferred tax expense (benefit)	$174.0M	($35.0M)	($1.2B)	($121.3M)
Income tax expense (benefit)	$760.0M	$362.0M	($873.0M)	$80.0M
Income (loss) from operating affiliates	$180.0M	$200.0M	$184.0M	$73.9M
Net income	$4.4B	$4.3B	$4.4B	$1.5B
Net (income) loss attributable to noncontrolling interests	$0	$0	$1.0M	($5.5M)
Net income available to Arch	$4.4B	$4.3B	$4.4B	$1.5B
Preferred dividends	($40.0M)	($40.0M)	($40.0M)	($40.7M)
Net income available to Arch common shareholders	$4.4B	$4.3B	$4.4B	$1.4B
Basic (per share)	$11.83	$11.47	$11.94	$3.90
Diluted (per share)	$11.60	$11.19	$11.62	$3.80
Basic (shares)	368.4M	372.5M	368.7M	368.6M
Diluted (shares)	375.9M	381.8M	378.8M	377.6M

ARCH CAPITAL GROUP LTD. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net premiums earned	$4.0B	$4.0B	$4.3B	$4.3B
Net investment income	$417.0M	$408.0M	$408.0M	$405.0M
Net realized gains (losses)	($17.0M)	($87.0M)	$210.0M	$229.0M
Other underwriting income	$57.0M	$59.0M	$50.0M	$62.0M
Equity in net income of investments accounted for using the equity method	$196.0M	$160.0M	$134.0M	$162.0M
Other income (loss)	$30.0M	($5.0M)	$22.0M	$18.0M
Total revenues	$4.7B	$4.5B	$5.1B	$5.2B
Losses and loss adjustment expenses	$2.2B	$2.1B	$2.2B	$2.3B
Acquisition expenses	$718.0M	$730.0M	$786.0M	$824.0M
Other operating expenses	$471.0M	$498.0M	$478.0M	$454.0M
Corporate expenses	$44.0M	$49.0M	$49.0M	$47.0M
Amortization of intangible assets	$30.0M	$30.0M	$49.0M	$48.0M
Interest expense	$44.0M	$37.0M	$37.0M	$38.0M
Net foreign exchange (gains) losses	($10.0M)	($21.0M)	$7.0M	$88.0M
Total expenses	$3.5B	$3.4B	$3.6B	$3.8B
Income (loss) before income taxes and income (loss) from operating affiliates	$1.2B	$1.1B	$1.5B	$1.4B
Income tax (expense) benefit	($164.0M)	($98.0M)	($215.0M)	($214.0M)
Income (loss) from operating affiliates	$46.0M	$36.0M	$62.0M	$40.0M
Net income (loss) available to Arch	$1.1B	$1.0B	$1.4B	$1.2B
Preferred dividends	($10.0M)	($10.0M)	($10.0M)	($10.0M)
Net income (loss) available to Arch common shareholders	$1.0B	$1.0B	$1.3B	$1.2B
Basic (per share)	$3.05	$2.94	$3.63	$3.30
Diluted (per share)	$3.00	$2.88	$3.56	$3.23
Basic (shares)	343.2M	353.2M	369.0M	372.2M
Diluted (shares)	348.8M	359.7M	376.1M	379.9M

Balance sheet

ARCH CAPITAL GROUP LTD. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Debt securities available for sale, at fair value	$35.1B	$29.8B	$25.6B	$21.0B
Equity securities, at fair value	$1.9B	$1.7B	$1.2B	$860.0M
Other investments (portion measured at fair value: $3,136 and $3,066)	$3.1B	$3.1B	$2.5B	$1.6B
Investments accounted for using the equity method	$6.5B	$6.0B	$4.6B	$3.8B
Total investments	$46.5B	$40.5B	$33.9B	$27.3B
Cash	$993.0M	$979.0M	$917.0M	$855.1M
Accrued investment income	$338.0M	$298.0M	$236.0M	$158.7M
Investment in operating affiliates	$1.3B	$1.2B	$1.1B	$964.6M
Premiums receivable (net of allowance for credit losses: $43 and $45)	$5.7B	$5.6B	$4.6B	$3.6B
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses (net of allowance for credit losses: $17 and $17)	$9.5B	$8.3B	$7.1B	$6.6B
Contractholder receivables (net of allowance for credit losses: $7 and $5)	$2.3B	$2.2B	$1.8B	$1.7B
Ceded unearned premiums	$2.7B	$2.4B	$2.2B	$1.8B
Deferred acquisition costs	$1.7B	$1.7B	$1.5B	$1.3B
Receivable for securities sold	$180.0M	$50.0M	$63.0M	$12.5M
Goodwill and intangible assets	$1.2B	$1.4B	$731.0M	$804.3M
Other assets	$6.8B	$6.2B	$4.8B	$2.9B
Total assets	$79.2B	$70.9B	$58.9B	$48.0B
Reserve for losses and loss adjustment expenses	$33.5B	$29.4B	$22.8B	$20.0B
Unearned premiums	$10.1B	$10.2B	$8.8B	$7.3B
Reinsurance balances payable	$2.3B	$2.1B	$2.0B	$1.5B
Contractholder payables	$2.3B	$2.2B	$1.8B	$1.7B
Collateral held for insured obligations	$237.0M	$249.0M	$259.0M	$249.2M
Senior notes	$2.7B	$2.7B	$2.7B	$2.7B
Payable for securities purchased	$308.0M	$181.0M	$247.0M	$95.0M
Other liabilities	$3.5B	$3.0B	$1.9B	$1.4B
Total liabilities	$55.0B	$50.1B	$40.6B	$35.1B
Non-cumulative preferred shares	830.0M	830.0M	830.0M	830.0M
Common shares ($0.0011 par, shares issued: 599.8 and 595.6)	1.0M	1.0M	1.0M	654.0K
Additional paid-in capital	$2.7B	$2.5B	$2.3B	$2.2B
Retained earnings	$27.0B	$22.7B	$20.3B	$15.9B
Accumulated other comprehensive income (loss), net of deferred income tax	$5.0M	($720.0M)	($676.0M)	($1.6B)
Common shares held in treasury, at cost (shares: 240.8 and 219.2)	-6.4B	-4.5B	-4.4B	-4.4B
Total shareholders' equity	$24.2B	$20.8B	$18.4B	$12.9B
Total liabilities and shareholders' equity	$79.2B	$70.9B	$58.9B	$48.0B

ARCH CAPITAL GROUP LTD. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Debt securities available for sale, at fair value	$36.5B	$35.0B	$34.3B	$33.1B
Equity securities, at fair value	$2.3B	$1.8B	$1.8B	$1.7B
Other investments, at fair value	$3.4B	$3.3B	$3.0B	$2.9B
Investments accounted for using the equity method	$6.9B	$6.7B	$6.2B	$6.6B
Total investments	$49.0B	$46.8B	$45.3B	$44.3B
Cash	$1.1B	$914.0M	$1.1B	$983.0M
Accrued investment income	$325.0M	$302.0M	$307.0M	$329.0M
Investment in operating affiliates	$1.3B	$1.3B	$1.4B	$1.4B
Premiums receivable (net of allowance for credit losses: $41 and $43)	$7.2B	$6.5B	$6.5B	$7.1B
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses (net of allowance for credit losses: $18 and $17)	$10.0B	$9.7B	$9.1B	$9.0B
Contractholder receivables (net of allowance for credit losses: $7 and $7)	$2.3B	$2.3B	$2.3B	$2.3B
Ceded unearned premiums	$3.7B	$3.2B	$3.1B	$3.2B
Deferred acquisition costs	$1.8B	$1.8B	$1.8B	$1.8B
Receivable for securities sold	$564.0M	$643.0M	$695.0M	$390.0M
Goodwill and intangible assets	$1.2B	$1.2B	$1.3B	$1.3B
Other assets	$6.9B	$6.8B	$6.4B	$6.7B
Total assets	$85.2B	$81.4B	$79.2B	$78.8B
Reserve for losses and loss adjustment expenses	$34.8B	$34.1B	$32.8B	$32.1B
Unearned premiums	$11.5B	$10.9B	$11.1B	$11.6B
Reinsurance balances payable	$3.2B	$2.7B	$2.6B	$2.8B
Contractholder payables	$2.3B	$2.3B	$2.3B	$2.3B
Collateral held for insured obligations	$240.0M	$260.0M	$239.0M	$225.0M
Senior notes	$4.3B	$2.7B	$2.7B	$2.7B
Payable for securities purchased	$1.1B	$798.0M	$335.0M	$728.0M
Other liabilities	$3.7B	$3.4B	$3.3B	$3.2B
Total liabilities	$61.1B	$57.3B	$55.5B	$55.7B
Non-cumulative preferred shares	830.0M	830.0M	830.0M	830.0M
Common shares ($0.0011 par, shares issued: 602.7 and 599.8)	1.0M	1.0M	1.0M	1.0M
Additional paid-in capital	$2.9B	$2.8B	$2.7B	$2.7B
Retained earnings	$29.1B	$28.1B	$25.8B	$24.5B
Accumulated other comprehensive income (loss), net of deferred income tax	($413.0M)	($333.0M)	$0	($48.0M)
Common shares held in treasury, at cost (shares: 261.8 and 240.8)	-8.4B	-7.2B	-5.6B	-4.9B
Total shareholders' equity available to Arch	$24.0B	$24.2B	$23.7B	$23.0B
Total liabilities and shareholders' equity	$85.2B	$81.4B	$79.2B	$78.8B

Cash flow statement

ARCH CAPITAL GROUP LTD. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$4.4B	$4.3B	$4.4B	$1.5B
Net realized (gains) losses	($440.0M)	($185.0M)	$182.0M	$651.6M
Equity in net (income) or loss of investments accounted for using the equity method and other income or loss	($459.0M)	($488.0M)	($215.0M)	$153.2M
Amortization of intangible assets	$193.0M	$235.0M	$95.0M	$106.2M
Share-based compensation	$148.0M	$133.0M	$93.0M	$87.6M
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable	$2.4B	$3.3B	$2.1B	$1.9B
Unearned premiums, net of ceded unearned premiums	($589.0M)	$632.0M	$1.0B	$1.4B
Premiums receivable	$38.0M	($818.0M)	($981.0M)	($1.1B)
Deferred acquisition costs	$86.0M	($212.0M)	($235.0M)	($374.1M)
Reinsurance balances payable	$137.0M	$179.0M	$455.0M	($35.5M)
Deferred income tax assets, net	$174.0M	($35.0M)	($1.2B)	—
Other items, net	$135.0M	($359.0M)	($92.0M)	($435.1M)
Net cash provided by operating activities	$6.2B	$6.7B	$5.7B	$3.8B
Purchases of fixed maturity investments	($36.5B)	($31.3B)	($18.1B)	($16.4B)
Purchases of equity securities	($1.4B)	($1.4B)	($456.0M)	($797.0M)
Purchases of other investments	($2.2B)	($3.5B)	($2.2B)	($1.7B)
Proceeds from sales of fixed maturity investments	$29.3B	$26.2B	$14.1B	$11.8B
Proceeds from sales of equity securities	$1.5B	$1.1B	$288.0M	$1.6B
Proceeds from sales, redemptions and maturities of other investments	$2.2B	$1.9B	$768.0M	$1.2B
Proceeds from redemptions and maturities of fixed maturity investments	$2.5B	$2.0B	$781.0M	$714.5M
Net settlements of derivative instruments	$310.0M	($5.0M)	$50.0M	($68.8M)
Net (purchases) sales of short-term investments	$258.0M	($269.0M)	($696.0M)	$467.2M
Acquisitions, net of cash	$0	$852.0M	—	—
Purchases of fixed assets	($44.0M)	($51.0M)	($52.0M)	($51.7M)
Other	$106.0M	($30.0M)	($23.0M)	$125.4M
Net cash used for investing activities	($4.0B)	($4.5B)	($5.5B)	($3.1B)
Purchases of common shares under share repurchase program	-1.9B	-24.0M	0	-585.8M
Proceeds from common shares issued, net	50.0M	7.0M	-2.0M	6.7M
Third party investment in redeemable noncontrolling interests	$0	$0	($22.0M)	—
Common dividends paid	($7.0M)	($1.9B)	—	—
Preferred dividends paid	($40.0M)	($40.0M)	($40.0M)	($40.7M)
Other	($4.0M)	($2.0M)	($5.0M)	($85.8M)
Net cash provided by (used for) financing activities	($1.9B)	($1.9B)	($69.0M)	($705.7M)
Effects of exchange rate changes on foreign currency cash and restricted cash	$61.0M	($25.0M)	$13.0M	($48.9M)
Increase (decrease) in cash and restricted cash	$307.0M	$262.0M	$225.0M	($41.4M)
Cash and restricted cash, beginning of year	$1.8B	$1.5B	$1.3B	$1.3B
Cash and restricted cash, end of year	$2.1B	$1.8B	$1.5B	$1.3B
Income taxes paid (received)	$458.0M	$378.0M	$267.0M	$254.9M
Interest paid	$127.0M	$127.0M	$127.0M	$128.4M

ARCH CAPITAL GROUP LTD. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income (loss)	$2.1B	$1.0B	$3.2B	$1.8B
Net realized (gains) losses	($43.0M)	$91.0M	($433.0M)	($231.0M)
Equity in net (income) or loss of investments accounted for using the equity method and other income or loss	($263.0M)	($137.0M)	($265.0M)	($107.0M)
Amortization of intangible assets	$60.0M	$30.0M	$146.0M	$97.0M
Share-based compensation	$97.0M	$82.0M	$124.0M	$99.0M
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable	$1.0B	$540.0M	$2.0B	$1.4B
Unearned premiums, net of ceded unearned premiums	$426.0M	$362.0M	$17.0M	$338.0M
Premiums receivable	($1.4B)	($820.0M)	($693.0M)	($1.3B)
Deferred acquisition costs	($44.0M)	($48.0M)	$33.0M	$19.0M
Reinsurance balances payable	$915.0M	$419.0M	$456.0M	$663.0M
Deferred income tax assets, net	$79.0M	$20.0M	$155.0M	$109.0M
Other items, net	($410.0M)	($398.0M)	$47.0M	($308.0M)
Net cash provided by operating activities	$2.5B	$1.2B	$4.8B	$2.6B
Purchases of fixed maturity investments	($19.2B)	($9.3B)	($28.2B)	($17.6B)
Purchases of equity securities	($657.0M)	($185.0M)	($1.3B)	($987.0M)
Purchases of other investments	($952.0M)	($499.0M)	($1.7B)	($1.2B)
Proceeds from sales of fixed maturity investments	$16.4B	$8.0B	$22.3B	$13.8B
Proceeds from sales of equity securities	$455.0M	$202.0M	$1.3B	$1.0B
Proceeds from sales, redemptions and maturities of other investments	$546.0M	$240.0M	$1.4B	$1.1B
Proceeds from redemptions and maturities of fixed maturity investments	$2.0B	$957.0M	$1.8B	$1.3B
Net settlements of derivative instruments	($106.0M)	($26.0M)	$275.0M	$240.0M
Net (purchases) sales of short-term investments	($655.0M)	($11.0M)	$530.0M	$52.0M
Purchases of fixed assets	($22.0M)	($8.0M)	($33.0M)	($21.0M)
Other	($26.0M)	($5.0M)	($5.0M)	($3.0M)
Net cash used for investing activities	($2.2B)	($639.0M)	($3.6B)	($2.2B)
Purchases of common shares under share repurchase program	-1.9B	-783.0M	-1.1B	-359.0M
Proceeds from common shares issued, net	9.0M	-17.0M	20.0M	19.0M
Proceeds from borrowings	$2.0B	—	—	—
Repayments of borrowings	($398.0M)	—	—	—
Common dividends paid	($5.0M)	($5.0M)	($7.0M)	($7.0M)
Preferred dividends paid	($20.0M)	($10.0M)	($30.0M)	($20.0M)
Other	($12.0M)	($12.0M)	($4.0M)	($2.0M)
Net cash used for financing activities	($398.0M)	($827.0M)	($1.1B)	($369.0M)
Effects of exchange rate changes on foreign currency cash and restricted cash	$1.0M	($8.0M)	$57.0M	$71.0M
Increase (decrease) in cash and restricted cash	($61.0M)	($286.0M)	$94.0M	$48.0M
Cash and restricted cash, beginning of year	$2.1B	$2.1B	$1.8B	$1.8B
Cash and restricted cash, end of period	$2.0B	$1.8B	$1.9B	$1.8B
Income taxes paid (received)	$191.0M	$22.0M	$315.0M	$149.0M
Interest paid	$65.0M	$0	$64.0M	$64.0M

ARCH CAPITAL GROUP LTD. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.