XML 40 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Analysis of underwriting income or loss by segment and reconciliation to net income available to common shareholders

The following tables summarize the Company’s underwriting income or loss by segment, together with a reconciliation of underwriting income or loss to net income available to Arch common shareholders:

			Three Months Ended
			March 31, 2024
			Insurance						Reinsurance						Mortgage																		Total
Gross premiums written (1)			$	2,126					$	3,467					$	341																	$	5,933
Premiums ceded (1)			(584)						(1,201)						(64)																		(1,848)
Net premiums written			1,542						2,266						277																		4,085
Change in unearned premiums			(91)						(600)						28																		(663)
Net premiums earned			1,451						1,666						305																		3,422
Other underwriting income (loss)			—						2						10																		12
Losses and loss adjustment expenses			(854)						(883)						9																		(1,728)
Acquisition expenses			(276)						(331)						—																		(607)
Other operating expenses			(235)						(75)						(53)																		(363)
Underwriting income (loss)			$	86					$	379					$	271																	736
Net investment income																																	327
Net realized gains (losses)																																	67
Equity in net income (loss) of investment funds accounted for using the equity method																																	99
Other income (loss)																																	14
Corporate expenses (2)																																	(46)
Transaction costs and other (2)																																	(7)
Amortization of intangible assets																																	(21)
Interest expense																																	(34)
Net foreign exchange gains (losses)																																	31
Income (loss) before income taxes and income (loss) from operating affiliates																																	1,166
Income tax (expense) benefit																																	(101)
Income (loss) from operating affiliates																																	55
Net income (loss) available to Arch																																	1,120
Preferred dividends																																	(10)
Net income (loss) available to Arch common shareholders																																	$	1,110
Underwriting Ratios
Loss ratio			58.9		%				53.0		%				(3.0)		%																50.5		%
Acquisition expense ratio			19.0		%				19.9		%				—		%																17.7		%
Other operating expense ratio			16.2		%				4.5		%				17.5		%																10.6		%
Combined ratio			94.1		%				77.4		%				14.5		%																78.8		%
Goodwill and intangible assets			$	293					$	121					$	364																	$	778

(1)    Certain assumed and ceded amounts related to intersegment transactions are included in individual segment results. Accordingly, the sum of such transactions for each segment does not agree to the total due to eliminations.

(2)    Certain expenses have been excluded from ‘corporate expenses’ and reflected in ‘transaction costs and other.’

			Three Months Ended
			March 31, 2023
			Insurance						Reinsurance						Mortgage																		Total
Gross premiums written (1)			$	1,979					$	2,460					$	343																	$	4,780
Premiums ceded (1)			(542)						(734)						(82)																		(1,356)
Net premiums written			1,437						1,726						261																		3,424
Change in unearned premiums			(180)						(396)						35																		(541)
Net premiums earned			1,257						1,330						296																		2,883
Other underwriting income (loss)			—						4						6																		10
Losses and loss adjustment expenses			(703)						(766)						(2)																		(1,471)
Acquisition expenses			(245)						(281)						(7)																		(533)
Other operating expenses			(195)						(74)						(50)																		(319)
Underwriting income (loss)			$	114					$	213					$	243																	570
Net investment income																																	199
Net realized gains (losses)																																	17
Equity in net income (loss) of investment funds accounted for using the equity method																																	48
Other income (loss)																																	11
Corporate expenses (2)																																	(29)
Transaction costs and other (2)																																	(1)
Amortization of intangible assets																																	(23)
Interest expense																																	(32)
Net foreign exchange gains (losses)																																	(18)
Income (loss) before income taxes and income (loss) from operating affiliates																																	742
Income tax (expense) benefit																																	(64)
Income (loss) from operating affiliates																																	39
Net income (loss)																																	717
Net (income) loss attributable to noncontrolling interests																																	(2)
Net income (loss) available to Arch																																	715
Preferred dividends																																	(10)
Net income (loss) available to Arch common shareholders																																	$	705
Underwriting Ratios
Loss ratio			55.9		%				57.6		%				0.6		%																51.0		%
Acquisition expense ratio			19.5		%				21.1		%				2.5		%																18.5		%
Other operating expense ratio			15.5		%				5.6		%				16.9		%																11.1		%
Combined ratio			90.9		%				84.3		%				20.0		%																80.6		%
Goodwill and intangible assets			$	228					$	142					$	415																	$	785

(1)    Certain assumed and ceded amounts related to intersegment transactions are included in individual segment results. Accordingly, the sum of such transactions for each segment does not agree to the total due to eliminations.

(2)    Certain expenses have been excluded from ‘corporate expenses’ and reflected in ‘transaction costs and other.’

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration