XML 17 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Unaudited Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net premiums earned $ 3,970 $ 3,248 $ 10,957 $ 9,096
Net investment income 399 269 1,090 710
Net realized gains (losses) 169 (248) 358 (354)
Other underwriting income 5 5 20 21
Equity in net income (loss) of investment funds accounted for using the equity method 171 59 437 176
Other income (loss) 8 (4) 30 10
Total revenues 4,722 3,329 12,892 9,659
Expenses        
Losses and loss adjustment expenses 2,403 1,647 5,958 4,609
Acquisition expenses 681 575 1,921 1,669
Other operating expenses 353 310 1,062 942
Corporate expenses 49 20 143 71
Amortization of intangible assets 88 24 136 71
Interest expense 35 34 104 99
Net foreign exchange (gains) losses 63 (22) 31 1
Total expenses 3,672 2,588 9,355 7,462
Income (loss) before income taxes and income (loss) from operating affiliates 1,050 741 3,537 2,197
Income tax (expense) benefit (98) (72) (296) (203)
Income (loss) from operating affiliates 36 54 136 115
Net income (loss) available to Arch 988 723 3,377 2,109
Preferred dividends (10) (10) (30) (30)
Net income (loss) available to Arch common shareholders $ 978 $ 713 $ 3,347 $ 2,079
Net income per common share and common share equivalent        
Basic (per share) $ 2.62 $ 1.93 $ 8.99 $ 5.64
Diluted (per share) $ 2.56 $ 1.88 $ 8.78 $ 5.50
Weighted average common shares and common share equivalents outstanding        
Basic (shares) 373.2 369.2 372.3 368.4
Diluted (shares) 382.3 379.4 381.3 378.3