Jun 2026 (Q2 FY26) — Jul 29, 2026
Arch Capital Group Q2 FY26 — Strong Earnings and Capital Returns Amidst Softening Market
Read the full callArch Capital Group (ACGL) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Arch Capital Group earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,668 | −10.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 1,057 | −14.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
3 of 4 judged targets kept · 8 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Catastrophe losses as a percentage of net earned premium | 7% to 8% range | Dec 2025 | Cat load going forward. I mean, we quoted the 6% to 8% kind of for the -- on an annual basis for the group. That hasn't changed. | Revised Up |
| Annualized effective tax rate | 16% to 18% range | Dec 2025 | Our effective tax rate on pretax operating income was 15.1%, reflecting the mix of income by tax jurisdiction. | On Track |
1 of ARCH CAPITAL GROUP LTD.'s 12 targets was missed. See which ones, and which are quietly gone. The 2 above are the free sample; 10 more targets are in the full ledger.
Claimed
- After-tax operating income reached $893 million or $2.56 of earnings per share.
- The company repurchased $1.2 billion in shares during Q2, bringing the total for the first half of the year to $1.95 billion.
- Book value per share grew by 2.8% in the quarter and has increased by 4.5% in the first half of the year.
- Reinsurance segment delivered excellent underwriting income of $410 million with a current accident year ex-cat combined ratio of 79.9%.
- Mortgage segment continued to provide strong, stable results, delivering $220 million of underwriting income.
Qualified
- The underwriting environment is increasingly competitive, with the market in the early stages of softening.
- Insurance segment underwriting income was negatively affected by $201 million in catastrophe losses related to the Iran conflict and severe U.S. storms.
- Net premiums written in the Reinsurance segment were down 10.4% year-over-year due to lower rates and higher retrocession purchases.
- Net premiums written in the Insurance segment declined 5.1% year-over-year due to nonrenewal of certain program business and reduced E&S property writings.
- The Reinsurance segment's current accident year ex-cat combined ratio increased 270 basis points from last year due to changes in mix and lower pricing in property lines.
Price
$100.48 −0.78% · −$0.79
Performance +16.1% 1Y
1Y: $86.51 on 17 Oct 2025 → $100.48. High $106.48 (28 Jul 2026), low $84.72 (28 Oct 2025).
- Previous close
- $101.27
- 52-week range
- $84.72 – $106.48
- One year
- +15.53%
Overview
- Symbol
- ACGL
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
3 of 4 judged targets kept · 8 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Catastrophe losses as a percentage of net earned premium | 7% to 8% range | Dec 2025 | Cat load going forward. I mean, we quoted the 6% to 8% kind of for the -- on an annual basis for the group. That hasn't changed. | Revised Up |
| Annualized effective tax rate | 16% to 18% range | Dec 2025 | Our effective tax rate on pretax operating income was 15.1%, reflecting the mix of income by tax jurisdiction. | On Track |
Claimed
- After-tax operating income reached $893 million or $2.56 of earnings per share.
- The company repurchased $1.2 billion in shares during Q2, bringing the total for the first half of the year to $1.95 billion.
- Book value per share grew by 2.8% in the quarter and has increased by 4.5% in the first half of the year.
- Reinsurance segment delivered excellent underwriting income of $410 million with a current accident year ex-cat combined ratio of 79.9%.
- Mortgage segment continued to provide strong, stable results, delivering $220 million of underwriting income.
Qualified
- The underwriting environment is increasingly competitive, with the market in the early stages of softening.
- Insurance segment underwriting income was negatively affected by $201 million in catastrophe losses related to the Iran conflict and severe U.S. storms.
- Net premiums written in the Reinsurance segment were down 10.4% year-over-year due to lower rates and higher retrocession purchases.
- Net premiums written in the Insurance segment declined 5.1% year-over-year due to nonrenewal of certain program business and reduced E&S property writings.
- The Reinsurance segment's current accident year ex-cat combined ratio increased 270 basis points from last year due to changes in mix and lower pricing in property lines.
The full ledger
Open ARCH CAPITAL GROUP LTD.’s full ledger
A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Arch Capital Group Q1 FY26 — Disciplined cycle management holds margins as market softens; $901M operating income
Read the full callDec 2025 (Q4 FY25) — Feb 10, 2026
Arch Capital Q4 FY25 — Exceptional Underwriting and Capital Returns
Read the full callEvery analysed call
Arch Capital Group earnings calls (ACGL)
Financials
What the filings say
Net profit, year on year: −15% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,722 | 4,548 | 4,673 | 5,213 | 5,109 | 4,934 | 4,521 | 4,668 |
| Interest | 35 | 37 | 35 | 38 | 37 | 38 | 37 | 44 |
| Net profit | 988 | 935 | 574 | 1,237 | 1,350 | 1,238 | 1,047 | 1,057 |
| EPS ($ per share) | 2.62 | — | 1.51 | 3.30 | 3.63 | — | 2.94 | 3.05 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 9,426 | 11,021 | 12,362 | 14,456 | 15,892 | 20,295 | 22,686 | 27,045 |
| Total liabilities | 21,781 | 25,570 | 29,295 | 31,546 | 35,069 | 40,551 | 50,086 | 55,035 |
| Total assets | 32,218 | 37,885 | 43,282 | 45,101 | 47,990 | 58,906 | 70,906 | 79,241 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,559 | 2,048 | 2,887 | 3,425 | 3,816 | 5,749 | 6,673 | 6,172 |
| Cash from investing | -554 | -1,806 | -3,043 | -2,138 | -3,101 | -5,468 | -4,461 | -4,036 |
| Cash from financing | -989 | -81 | 521 | -1,229 | -706 | -69 | -1,925 | -1,890 |
| Net cash flow | -3 | 179 | 387 | 24 | -41 | 225 | 262 | 307 |
| Capital expenditure | -30 | -38 | -40 | -41 | -50 | -52 | -51 | -44 |
| Free cash flow | 1,530 | 2,011 | 2,847 | 3,384 | 3,766 | 5,697 | 6,622 | 6,128 |
ACGL operating KPIs by quarter
| KPI | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Change vs prior quarter |
|---|---|---|---|
| Combined ratio | 79.8%Our quarterly consolidated combined ratio of 79.8% reflect excellent underwriting and low cat activity in the quarter.Source: earnings call transcript | 80.6%Our quarterly consolidated combined ratio of 80.6% reflects excellent underwriting results across the group.Source: earnings call transcript | +0.8 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
62 filings between Oct 30, 2025 and Aug 18, 2026.
Open market
decisions to buy or sellPurchases
$498.7K
1 purchase by 1 insider
Sales
$29.21M
11 sales by 6 insiders
Compensation
not trading decisions- 28
- Award — granted as compensation
- 5
- Option exercise — converted options into shares
- 7
- Tax withheld — shares kept back by the company to cover tax
Also filed: 10 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| PASQUESI JOHN M | — | $19.97M | Dec 15, 2025 |
| Rajeh Maamoun | — | $4.56M | Feb 11, 2026 |
| Papadopoulo Nicolas | — | $2.11M | Mar 10, 2026 |
| Morin Francois | — | $1.85M | Aug 18, 2026 |
| Gansberg David | — | $569.3K | Mar 10, 2026 |
| Houston Daniel Joseph | $498.7K | — | Apr 30, 2026 |
| Posner Brian S | — | $144.6K | Jun 3, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 18, 2026 | Morin Francois CFO and Treasurer | Sale | 11,010 | $1.09M |
| Aug 18, 2026 | Morin Francois CFO and Treasurer | Option exercise | 11,010 | $298.2K |
| Jun 11, 2026 | PASQUESI JOHN M Director | Gift | 1,006,700 | $0 |
| Jun 11, 2026 | PASQUESI JOHN M Director | Gift | 1,006,700 | $0 |
| Jun 3, 2026 | Posner Brian S Director | Sale | 3,000 | $59.0K |
| May 11, 2026 | Posner Brian S Director | Sale | 2,000 | $34.3K |
| May 5, 2026 | Goodman Laurie Director | Award | 2,071 | — |
| May 5, 2026 | PASQUESI JOHN M Director | Award | 1,327 | — |
| May 5, 2026 | MALLESCH EILEEN A Director | Award | 2,071 | — |
| May 5, 2026 | Posner Brian S Director | Award | 2,071 | — |
| May 5, 2026 | Ebong Francis Director | Award | 2,071 | — |
| May 5, 2026 | BUNCE JOHN L JR Director | Award | 2,071 | — |
| May 5, 2026 | MOCZARSKI ALEXANDER S Director | Award | 2,071 | — |
| May 5, 2026 | KILCOYNE MOIRA A. Director | Award | 2,071 | — |
| May 5, 2026 | Houston Daniel Joseph Director | Award | 1,327 | — |
| May 5, 2026 | Houston Daniel Joseph Director | Award | 2,071 | — |
| May 5, 2026 | PASQUESI JOHN M Director | Award | 2,071 | — |
| May 5, 2026 | KILCOYNE MOIRA A. Director | Award | 1,327 | — |
| May 5, 2026 | BUNCE JOHN L JR Director | Award | 1,327 | — |
| May 5, 2026 | Triplett Neal F Director | Award | 2,071 | — |
| May 5, 2026 | Triplett Neal F Director | Award | 1,327 | — |
| May 5, 2026 | PASQUESI JOHN M Director | Award | 1,858 | — |
| Apr 30, 2026 | Houston Daniel Joseph Director | Purchase | 5,300 | $498.7K |
| Mar 11, 2026 | Posner Brian S Director | Sale | 3,000 | $51.3K |
| Mar 10, 2026 | Papadopoulo Nicolas CEO | Option exercise | 21,930 | $414.5K |
| Mar 10, 2026 | Gansberg David President, Arch Capital Group | Sale | 5,907 | $569.3K |
| Mar 10, 2026 | Papadopoulo Nicolas CEO | Sale | 21,930 | $2.11M |
| Mar 10, 2026 | Gansberg David President, Arch Capital Group | Option exercise | 10,770 | $203.6K |
| Mar 4, 2026 | Rajeh Maamoun President, Arch Capital Group | Gift | 40,600 | $0 |
| Mar 4, 2026 | Rajeh Maamoun President, Arch Capital Group | Gift | 40,600 | $0 |
| Mar 4, 2026 | Gansberg David President, Arch Capital Group | Tax withheld | 12,519 | $1.23M |
| Mar 4, 2026 | PETRILLO LOUIS T Officer of Subsidiary | Tax withheld | 8,030 | $790.3K |
| Mar 3, 2026 | PETRILLO LOUIS T Officer of Subsidiary | Award | 2,889 | $0 |
| Mar 3, 2026 | Gansberg David President, Arch Capital Group | Award | 6,843 | $0 |
| Mar 3, 2026 | Rajeh Maamoun President, Arch Capital Group | Award | 6,843 | $0 |
| Mar 3, 2026 | Morin Francois CFO and Treasurer | Award | 5,329 | $0 |
| Mar 3, 2026 | Papadopoulo Nicolas CEO | Award | 21,318 | $0 |
| Mar 3, 2026 | Todd Christine Chief Investment Officer | Award | 3,981 | $0 |
| Feb 27, 2026 | Gansberg David President, Arch Capital Group | Tax withheld | 553 | $55.4K |
| Feb 27, 2026 | PETRILLO LOUIS T Officer of Subsidiary | Tax withheld | 312 | $31.2K |
| Feb 24, 2026 | Morin Francois CFO and Treasurer | Award | 27,432 | $0 |
| Feb 24, 2026 | Gansberg David President, Arch Capital Group | Tax withheld | 509 | $50.5K |
| Feb 24, 2026 | Rajeh Maamoun President, Arch Capital Group | Award | 28,546 | $0 |
| Feb 24, 2026 | Papadopoulo Nicolas CEO | Award | 46,674 | $0 |
| Feb 24, 2026 | PETRILLO LOUIS T Officer of Subsidiary | Award | 17,136 | $0 |
| Feb 24, 2026 | PETRILLO LOUIS T Officer of Subsidiary | Tax withheld | 412 | $40.9K |
| Feb 24, 2026 | Todd Christine Chief Investment Officer | Award | 25,046 | $0 |
| Feb 24, 2026 | Gansberg David President, Arch Capital Group | Award | 28,546 | $0 |
| Feb 11, 2026 | Rajeh Maamoun President, Arch Capital Group | Option exercise | 31,500 | $854.6K |
| Feb 11, 2026 | Rajeh Maamoun President, Arch Capital Group | Option exercise | 15,930 | $431.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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