24 June 2017

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Industrial hits and frame builders’ risks drive Arch fac loss

12 June 2017

Arch Capital Group reported a $38mn hit to its second quarter pre-tax underwriting profits stemming from its property facultative book, as the division weathered excess layer losses on industrial and frame builders' risk (FBR) exposures.

In a Securities and Exchange Commission (SEC) filing on 6 June, Arch said: "Such activity related to losses incurred on a small number of contracts across multiple underwriting years and represents an unusually high level of activity for the property facultative reinsurance unit."

The SEC...


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