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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Net premiums earned $ 9,678,077 $ 8,082,298 $ 6,991,935
Net investment income 496,547 389,118 519,608
Net realized gains (losses) (662,734) 379,845 823,460
Other underwriting income 13,227 22,073 26,784
Equity in net income of investments accounted for using the equity method 115,856 366,402 146,693
Other income (loss) (26,165) 10,244 29
Total revenues 9,614,808 9,249,980 8,508,509
Expenses      
Losses and loss adjustment expenses 5,027,517 4,584,803 4,689,599
Acquisition expenses 1,739,580 1,303,178 1,004,842
Other operating expenses 1,128,175 998,595 875,176
Corporate expenses 95,482 79,157 81,988
Amortization of intangible assets 106,200 82,955 69,031
Interest expense 130,266 139,470 143,456
Net foreign exchange losses (gains) (100,905) (41,529) 83,634
Total expenses 8,126,315 7,146,629 6,947,726
Income before income taxes and income (loss) from operating affiliates 1,488,493 2,103,351 1,560,783
Income taxes:      
Current tax expense (benefit) 201,216 295,533 197,662
Deferred tax expense (benefit) (121,255) (166,951) (85,824)
Income tax expense 79,961 128,582 111,838
Income (loss) from operating affiliates 73,891 264,693 16,766
Net income 1,482,423 2,239,462 1,465,711
Net (income) loss attributable to noncontrolling interests (5,490) (82,613) (60,190)
Net income available to Arch 1,476,933 2,156,849 1,405,521
Preferred share dividends (40,736) (48,343) (41,612)
Loss on redemption of preferred shares 0 (15,101) 0
Net income available to Arch common shareholders $ 1,436,197 $ 2,093,405 $ 1,363,909
Net income per common share and common share equivalent      
Basic (per share) $ 3.90 $ 5.34 $ 3.38
Diluted (per share) $ 3.80 $ 5.23 $ 3.32
Weighted average common shares and common share equivalents outstanding      
Basic (shares) 368,612,197 391,748,715 403,062,179
Diluted (shares) 377,609,767 400,345,936 410,259,455