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Arch Capital CEO says reinsurance cycle turning more competitive

Arch posted second quarter 2026 net income of $1 billion as gross premiums written fell 1.1% to $6.1 billion.

Reported · Written up by our desk · Reinsurance

Nicolas Papadopoulo, CEO of Arch Capital Group Ltd., said the reinsurance market is entering a more competitive phase, driven by an influx of capacity. While he characterized the environment as competitive, he also said it remains favorable for Arch to write new business, provided the company applies greater discipline in how it deploys capital.

In its second quarter 2026 results, Arch reported net income of $1 billion as catastrophe losses rose to $201 million across the business. The company said gross premiums written decreased 1.1% to $6.1 billion, net premiums written fell nearly 7% to $4.1 billion, and net premiums earned dropped more than 8% to $4 billion.

Within reinsurance, Arch saw gross premiums written rise slightly, but net premiums written declined 10.4% to $1.8 billion, which the company linked in part to non-renewals, share reductions, and targeted increased retrocessions. Commenting on property reinsurance, Papadopoulo pointed to rate reductions as a key headwind, noting Arch saw rate reductions in the mid-teens but that rate adequacy has not returned to pre-Hurricane Ian levels in 2022.

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