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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Analysis of underwriting income (loss) by segment and reconciliation to net income (loss) 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, summary information regarding net premiums written and earned by major line of business and net premiums written by location:
| Year Ended December 31, 2024
| Insurance |  | Reinsurance |  | Mortgage |  |  |  |  |  | Total
Gross premiums written (1) | $ | 9,053 |  |  | $ | 11,112 |  |  | $ | 1,351 |  |  |  |  |  |  | $ | 21,511 |
Premiums ceded (1) | (2,179) |  |  | (3,366) |  |  | (239) |  |  |  |  |  |  | (5,779) |
Net premiums written | 6,874 |  |  | 7,746 |  |  | 1,112 |  |  |  |  |  |  | 15,732 |
Change in unearned premiums | (247) |  |  | (504) |  |  | 119 |  |  |  |  |  |  | (632) |
Net premiums earned | 6,627 |  |  | 7,242 |  |  | 1,231 |  |  |  |  |  |  | 15,100 |
Other underwriting income | — |  |  | 9 |  |  | 17 |  |  |  |  |  |  | 26 |
Losses and loss adjustment expenses | (4,070) |  |  | (4,327) |  |  | 55 |  |  |  |  |  |  | (8,342) |
Acquisition expenses | (1,217) |  |  | (1,432) |  |  | (2) |  |  |  |  |  |  | (2,651) |
Other operating expenses (2) | (995) |  |  | (270) |  |  | (207) |  |  |  |  |  |  | (1,472) |
Underwriting income | $ | 345 |  |  | $ | 1,222 |  |  | $ | 1,094 |  |  |  |  |  |  | 2,661 |
Net investment income |  |  |  |  |  |  |  |  |  |  | 1,495 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  | 197 |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  |  |  |  |  | 580 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  | 42 |
Corporate expenses |  |  |  |  |  |  |  |  |  |  | (119) |
Transaction costs and other |  |  |  |  |  |  |  |  |  |  | (81) |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  | (235) |
Interest expense |  |  |  |  |  |  |  |  |  |  | (141) |
Net foreign exchange gains (losses) |  |  |  |  |  |  |  |  |  |  | 75 |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 4,474 |
Income tax (expense) benefit |  |  |  |  |  |  |  |  |  |  | (362) |
Income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 200 |
Net income (loss) available to Arch |  |  |  |  |  |  |  |  |  |  | 4,312 |
Preferred dividends |  |  |  |  |  |  |  |  |  |  | (40) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  |  |  |  |  | $ | 4,272 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 61.4 | % |  | 59.7 | % |  | -4.4 | % |  |  |  |  |  | 55.2 | %
Acquisition expense ratio | 18.4 | % |  | 19.8 | % |  | 0.2 | % |  |  |  |  |  | 17.6 | %
Other operating expense ratio | 15.0 | % |  | 3.7 | % |  | 16.8 | % |  |  |  |  |  | 9.7 | %
Combined ratio | 94.8 | % |  | 83.2 | % |  | 12.6 | % |  |  |  |  |  | 82.5 | %
Goodwill and intangible assets | $ | 916 |  |  | $ | 102 |  |  | $ | 333 |  |  |  |  |  |  | $ | 1,351 |
Total investable assets |  |  |  |  |  |  |  |  |  |  | $ | 41,388 |
Total assets |  |  |  |  |  |  |  |  |  |  | 70,906 |
Total liabilities |  |  |  |  |  |  |  |  |  |  | 50,086 |
(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) Other operating expenses primarily include expenses that are related to compensation and employee benefits, information technology and professional fees.
| Year Ended December 31, 2023
| Insurance |  | Reinsurance |  | Mortgage |  |  |  |  |  | Total
Gross premiums written (1) | $ | 7,911 |  |  | $ | 9,113 |  |  | $ | 1,387 |  |  |  |  |  |  | $ | 18,403 |
Premiums ceded (1) | (2,049) |  |  | (2,559) |  |  | (335) |  |  |  |  |  |  | (4,935) |
Net premiums written | 5,862 |  |  | 6,554 |  |  | 1,052 |  |  |  |  |  |  | 13,468 |
Change in unearned premiums | (416) |  |  | (718) |  |  | 106 |  |  |  |  |  |  | (1,028) |
Net premiums earned | 5,446 |  |  | 5,836 |  |  | 1,158 |  |  |  |  |  |  | 12,440 |
Other underwriting income | — |  |  | 17 |  |  | 14 |  |  |  |  |  |  | 31 |
Losses and loss adjustment expenses | (3,122) |  |  | (3,227) |  |  | 103 |  |  |  |  |  |  | (6,246) |
Acquisition expenses, net | (1,055) |  |  | (1,240) |  |  | (17) |  |  |  |  |  |  | (2,312) |
Other operating expenses (2) | (819) |  |  | (288) |  |  | (194) |  |  |  |  |  |  | (1,301) |
Underwriting income (loss) | $ | 450 |  |  | $ | 1,098 |  |  | $ | 1,064 |  |  |  |  |  |  | 2,612 |
Net investment income |  |  |  |  |  |  |  |  |  |  | 1,023 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  | (165) |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  |  |  |  |  | 278 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  | 27 |
Corporate expenses |  |  |  |  |  |  |  |  |  |  | (96) |
Transaction costs and other |  |  |  |  |  |  |  |  |  |  | (6) |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  | (95) |
Interest expense |  |  |  |  |  |  |  |  |  |  | (133) |
Net foreign exchange gains (losses) |  |  |  |  |  |  |  |  |  |  | (60) |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 3,385 |
Income tax (expense) benefit |  |  |  |  |  |  |  |  |  |  | 873 |
Income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 184 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  | 4,442 |
Amounts attributable to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  | 1 |
Net income (loss) available to Arch |  |  |  |  |  |  |  |  |  |  | 4,443 |
Preferred dividends |  |  |  |  |  |  |  |  |  |  | (40) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  |  |  |  |  | $ | 4,403 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 57.3 | % |  | 55.3 | % |  | -8.9 | % |  |  |  |  |  | 50.2 | %
Acquisition expense ratio | 19.4 | % |  | 21.2 | % |  | 1.4 | % |  |  |  |  |  | 18.6 | %
Other operating expense ratio | 15.0 | % |  | 4.9 | % |  | 16.8 | % |  |  |  |  |  | 10.5 | %
Combined ratio | 91.7 | % |  | 81.4 | % |  | 9.3 | % |  |  |  |  |  | 79.3 | %
Goodwill and intangible assets | $ | 224 |  |  | $ | 130 |  |  | $ | 377 |  |  |  |  |  |  | $ | 731 |
Total investable assets |  |  |  |  |  |  |  |  |  |  | $ | 34,589 |
Total assets |  |  |  |  |  |  |  |  |  |  | 58,906 |
Total liabilities |  |  |  |  |  |  |  |  |  |  | 40,551 |
(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) Other operating expenses primarily include expenses that are related to compensation and employee benefits, information technology and professional fees.
| Year Ended December 31, 2022
| Insurance |  | Reinsurance |  | Mortgage |  |  |  |  |  | Total
Gross premiums written (1) | $ | 6,931 |  |  | $ | 6,948 |  |  | $ | 1,455 |  |  |  |  |  |  | $ | 15,327 |
Premiums ceded (1) | (1,910) |  |  | (2,024) |  |  | (322) |  |  |  |  |  |  | (4,249) |
Net premiums written | 5,021 |  |  | 4,924 |  |  | 1,133 |  |  |  |  |  |  | 11,078 |
Change in unearned premiums | (461) |  |  | (965) |  |  | 27 |  |  |  |  |  |  | (1,399) |
Net premiums earned | 4,560 |  |  | 3,959 |  |  | 1,160 |  |  |  |  |  |  | 9,679 |
Other underwriting income | — |  |  | 5 |  |  | 8 |  |  |  |  |  |  | 13 |
Losses and loss adjustment expenses | (2,784) |  |  | (2,568) |  |  | 324 |  |  |  |  |  |  | (5,028) |
Acquisition expenses, net | (887) |  |  | (813) |  |  | (40) |  |  |  |  |  |  | (1,740) |
Other operating expenses (2) | (665) |  |  | (268) |  |  | (195) |  |  |  |  |  |  | (1,128) |
Underwriting income (loss) | $ | 224 |  |  | $ | 315 |  |  | $ | 1,257 |  |  |  |  |  |  | 1,796 |
Net investment income |  |  |  |  |  |  |  |  |  |  | 496 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  | (663) |
Equity in net income (loss) of investments accounted for using the equity method |  |  |  |  |  |  |  |  |  |  | 115 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  | (27) |
Corporate expenses |  |  |  |  |  |  |  |  |  |  | (95) |
Transaction costs and other |  |  |  |  |  |  |  |  |  |  | — |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  | (106) |
Interest expense |  |  |  |  |  |  |  |  |  |  | (131) |
Net foreign exchange gains (losses) |  |  |  |  |  |  |  |  |  |  | 102 |
Income (loss) before income taxes and income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 1,487 |
Income tax (expense) benefit |  |  |  |  |  |  |  |  |  |  | (80) |
Income (loss) from operating affiliates |  |  |  |  |  |  |  |  |  |  | 75 |
Net income |  |  |  |  |  |  |  |  |  |  | 1,482 |
Amounts attributable to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  | (6) |
Net income (loss) available to Arch |  |  |  |  |  |  |  |  |  |  | 1,476 |
Preferred dividends |  |  |  |  |  |  |  |  |  |  | (40) |
Net income (loss) available to Arch common shareholders |  |  |  |  |  |  |  |  |  |  | $ | 1,436 |
Underwriting Ratios |  |  |  |  |  |  |  |  |  |  |
Loss ratio | 61.0 | % |  | 64.9 | % |  | -28.0 | % |  |  |  |  |  | 51.9 | %
Acquisition expense ratio | 19.4 | % |  | 20.5 | % |  | 3.5 | % |  |  |  |  |  | 18.0 | %
Other operating expense ratio | 14.6 | % |  | 6.8 | % |  | 16.8 | % |  |  |  |  |  | 11.7 | %
Combined ratio | 95.0 | % |  | 92.2 | % |  | -7.7 | % |  |  |  |  |  | 81.6 | %
Goodwill and intangible assets | $ | 229 |  |  | $ | 145 |  |  | $ | 430 |  |  |  |  |  |  | $ | 804 |
Total investable assets |  |  |  |  |  |  |  |  |  |  | $ | 28,065 |
Total assets |  |  |  |  |  |  |  |  |  |  | 47,990 |
Total liabilities |  |  |  |  |  |  |  |  |  |  | 35,069 |
(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) Other operating expenses primarily include expenses that are related to compensation and employee benefits, information technology and professional fees.
Summary of information regarding net premiums earned by major line of business and net premiums written by underwriting location | The following tables provide summary information regarding net premiums earned by major line of business and net premiums written by underwriting location:
INSURANCE SEGMENT | Year Ended December 31,
2024 |  | 2023 |  | 2022
Net premiums earned |  |  |  |  |
North America |  |  |  |  |
Property and short-tail specialty | $ | 1,165 |  |  | $ | 976 |  |  | $ | 746 |
Other liability - occurrence | 942 |  | 618 |  | 509
Other liability - claims made | 843 |  | 866 |  | 874
Workers compensation | 549 |  | 495 |  | 415
Commercial automobile | 459 |  | 343 |  | 287
Commercial multi-peril | 435 |  | 193 |  | 197
Other | 309 |  | 290 |  | 255
Total North America | 4,702 |  | 3,781 |  | 3,283
International |  |  |  |  |
Property and short-tail specialty | $ | 1,050 |  |  | $ | 885 |  |  | $ | 613 |
Casualty and other | 875 |  | 780 |  | 664
Total International | 1,925 |  | 1,665 |  | 1,277
Total | $ | 6,627 |  |  | $ | 5,446 |  |  | $ | 4,560 |
Net premiums written by underwriting location |  |  |  |  |
North America | $ | 4,869 |  |  | $ | 3,995 |  |  | $ | 3,527 |
International | 2,005 |  | 1,867 |  | 1,494 |
Total | $ | 6,874 |  |  | $ | 5,862 |  |  | $ | 5,021 |
REINSURANCE SEGMENT | Year Ended December 31,
2024 |  | 2023 |  | 2022
Net premiums earned |  |  |  |  |
Other specialty | $ | 2,619 |  |  | $ | 2,097 |  |  | $ | 1,378 |
Property excluding property catastrophe | 2,148 |  | 1,645 |  | 1,090
Casualty | 1,088 |  | 1,005 |  | 855
Property catastrophe | 959 |  | 742 |  | 367
Marine and aviation | 276 |  | 229 |  | 159
Other | 152 |  | 118 |  | 110
Total | $ | 7,242 |  |  | $ | 5,836 |  |  | $ | 3,959 |
Net premiums written by underwriting location |  |  |  |  |
Bermuda | $ | 3,425 |  |  | $ | 3,288 |  |  | $ | 2,561 |
United States | 2,135 |  | 1,756 |  | 1,247 |
Europe and other | 2,186 |  | 1,510 |  | 1,116 |
Total | $ | 7,746 |  |  | $ | 6,554 |  |  | $ | 4,924 |
MORTGAGE SEGMENT | Year Ended December 31,
2024 |  | 2023 |  | 2022
Net premiums earned |  |  |  |  |
U.S. primary mortgage insurance | $ | 845 |  |  | $ | 759 |  |  | $ | 804 |
U.S. credit risk transfer (CRT) and other | 213 |  | 220 |  | 196
International mortgage insurance/reinsurance | 173 |  | 179 |  | 160
Total | $ | 1,231 |  |  | $ | 1,158 |  |  | $ | 1,160 |
Net premiums written by underwriting location |  |  |  |  |
United States | $ | 823 |  |  | $ | 743 |  |  | $ | 781 |
Other | 289 |  |  | 309 |  |  | 352 |
Total | $ | 1,112 |  |  | $ | 1,052 |  |  | $ | 1,133 |

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- 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
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