Arch cedes 17% of reinsurance business to sidecar in 4Q
Bermudian (re)insurer Arch has revealed that it ceded 16.9% of the gross written premiums of its reinsurance arm in the 2006 fourth quarter, compared to 4.5% a year earlier as it passed $35.3m ($61.8m on an earned basis) to its Flatiron Re sidecar.
Arch reported net income of $692.6m, the full 2006 year compared to $256.5m a year earlier. The result came off a combined ratio of 85.4% on net written premiums of $3bn and represented a 25.6%
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