Arch Capital Group Ltd. (ACGL) CEO Marc Grandisson on Q2 2022 Results - Earnings Call Transcript

Arch Capital Group Ltd. (NASDAQ:ACGL) Q2 Results Conference Call July 28, 2022 11:00 AM ET

Company Participants

Marc Grandisson - Chief Executive Officer

Francois Morin - Chief Financial Officer and Treasurer

Conference Call Participants

Elyse Greenspan - Wells Fargo

Jimmy Bhullar - J.P. Morgan

Tracy Benguigui - Barclays

Brian Meredith - UBS

Josh Shanker - Bank of America

Ryan Tunis - Autonomous Research

Meyer Shields - KBW

Operator

Good day, ladies and gentlemen, and welcome to the Second Quarter 2022 Arch Capital Group Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call is being recorded.

Before the company gets started with its update, management wants to first remind everyone that certain statements in today's press release and discussed on this call may constitute forward-looking statements under the federal securities laws. These statements are based upon management's current assessments and assumptions and are subject to a number of risks and uncertainties. Consequently, actual results may differ materially from those expressed or implied. For more information on the risks and other factors that may affect future performance, investors should review periodic reports that are filed by the company with the SEC from time-to-time.

Additionally, certain statements contained in the call that are not based on historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company intends the forward-looking statements in the call to be subject to the safe harbor created thereby.

Management also will make reference to some non-GAAP measures of financial performance. The reconciliation to GAAP and definition of operating income can be found on the company's current report on Form 8-K furnished to the SEC yesterday, which contains the company's earnings press release and is available on the company's website.

I would now like to introduce your host for today's conference, Mr. Marc Grandisson and Mr. Francois Morin. Sirs, you may begin.

Marc Grandisson

Thanks Elizabeth. Good morning, and welcome to our earnings call. Arch delivered strong results this quarter headlined by an operating return on equity of 17%. Our results were driven by excellent underwriting performance across all three operating segments as we continued our focus on growth opportunities during this hard market, as demonstrated by the 27% increase in P&C net premium written over the same quarter one year ago. These results demonstrate how our company is positioned to capitalize on market opportunities across the many lines that we underwrite.