Unaudited Condensed Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

The following table summarizes the 2019 and 2018 unaudited condensed quarterly financial information:



	Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Year Ended December 31, 2019
Net premiums written	$	1,455,453		$	1,613,457		$	1,444,898		$	1,525,259
Net premiums earned	1,515,882			1,438,023			1,463,727			1,368,866
Net investment income	154,263			161,488			155,038			156,949
Net realized gains (losses)	41,474			62,518			120,806			141,565
Net impairment losses recognized in earnings	(644		)	(1,163		)	(49		)	(1,309		)
Underwriting income (loss)	251,421			231,262			293,134			260,148
Net income (loss) attributable to Arch	326,384			392,453			468,954			448,528
Preferred dividends	(10,403		)	(10,403		)	(10,403		)	(10,403		)
Net income (loss) available to Arch common shareholders	315,981			382,050			458,551			438,125
Net income (loss) per common share -- basic	$	0.78		$	0.95		$	1.14		$	1.09
Net income (loss) per common share -- diluted	$	0.76		$	0.92		$	1.12		$	1.07

Year Ended December 31, 2018
Net premiums written	$	1,301,754		$	1,333,553		$	1,298,896		$	1,412,544
Net premiums earned	1,369,435			1,290,878			1,336,763			1,234,899
Net investment income	157,217			144,024			135,668			126,724
Net realized gains (losses)	(166,030		)	(51,705		)	(76,611		)	(110,998		)
Net impairment losses recognized in earnings	(1,705		)	(492		)	(470		)	(162		)
Underwriting income (loss)	166,955			234,581			235,465			236,997
Net income (loss) attributable to Arch	136,494			227,408			243,646			150,423
Preferred dividends	(10,403		)	(10,402		)	(10,403		)	(10,437		)
Net income (loss) available to Arch common shareholders	126,091			217,006			233,243			137,276
Net income (loss) per common share -- basic	$	0.31		$	0.54		$	0.58		$	0.34
Net income (loss) per common share -- diluted	$	0.31		$	0.53		$	0.56		$	0.33