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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Elyse Greenspan | Wells Fargo | 22 (0%) |
| Mike Zaremski | BMO Capital Markets | 18 (0%) |
| Dave Motemaden | Evercore ISI | 14 (0%) |
| Meyer Shields | KBW | 13 (8%) |
| Cave Montazeri | Deutsche Bank | 12 (17%) |
| Andrew Kligerman | TD Cowen | 11 (0%) |
| Brian Meredith | UBS | 10 (10%) |
| Alex Scott | Barclays | 10 (0%) |
| Andrew Andersen | Jefferies | 9 (0%) |
| Josh Shanker | Bank of America | 8 (13%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wells Fargo | 2 | 28 (0%) |
| BMO Capital Markets | 1 | 18 (0%) |
| Evercore ISI | 1 | 14 (0%) |
| KBW | 1 |
| 13 (8%) |
| Deutsche Bank | 1 | 12 (17%) |
| TD Cowen | 1 | 11 (0%) |
| Barclays | 1 | 10 (0%) |
| UBS | 1 | 10 (10%) |
Arch Capital opened 2026 with operating EPS of $2.50 and a 15.4% annualized return on equity as an increasingly competitive market drove Insurance gross premiums written up only 2% and Reinsurance down 2.3%. The ex-cat accident year combined ratio rose 130 basis points year-over-year to 82.3% reflecting the pricing cycle turn, though absolute margins remained strong. The Midcorp system migration was completed in 18 months using AI-assisted workflows, positioning the franchise for scale.
Margin | Competitive Dynamics | Pricing | Revenue Growth | M&A | Capital Allocation | Credit | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 13 | 11 | 9 | 4 | 7 | 1 | 4 | 1 |
| 2025Q1 | 7 | 7 | 6 | 6 | 2 | 3 | 3 | |
| 2025Q2 | 12 | 8 | 6 | 6 | 7 | 1 | 4 | 1 |
| 2025Q3 | 9 | 7 | 5 | 5 | 5 | 5 | 3 | 2 |
| 2025Q4 | 7 | 6 | 7 | 6 | 4 | 6 | 2 | |
| 2026Q1 | 14 | 7 | 8 | 4 | 2 | 3 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 13 | 7 | 12 | 9 | 7 | 14 |
| Competitive Dynamics | 11 | 7 | 8 | 7 | 6 | 7 |
| Pricing | 9 | 6 | 6 | 5 | 7 | 8 |
| Revenue Growth | 4 | 6 | 6 | 5 | 6 | 4 |
| M&A | 7 | 2 | 7 | 5 | 4 | 2 |
| Capital Allocation | 1 | 3 | 1 | 5 | 6 | 3 |
| Credit | 4 | 3 | 4 | 3 | 3 | |
| Regulation Policy | 1 | 1 | 2 | 2 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $5.02B | +32.6% | $2.41 | -60.6% | 24.0% | 18.6% |
| FY2025 Q1 | $4.59B | +18.4% | $1.48 | -49.3% | 14.8% | 12.5% |
| FY2025 Q2 | $4.97B | +22.4% | $3.23 | -2.1% | 28.4% | 24.9% |
| FY2025 Q3 |
| $4.98B |
| +11.1% |
| $3.56 |
| +39.1% |
| 30.2% |
| 27.1% |
| FY2025 Q4 | $5.39B | +7.3% | $3.35 | +39.0% | 25.7% | 23.0% |
| FY2026 Q1 | $4.36B | -5.0% | $2.88 | +94.6% | 26.3% | 24.0% |
| FY2026 Q2 | $4.47B | -10.1% | $3.00 | -7.1% | 26.3% | 23.6% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What ACGL and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“As a reminder, this quarter's result reflects our lower ownership stake in Summer's Re since the start of the year.”
Arch's operating-affiliate income reflects a reduced equity ownership stake in Somers Re as of the start of the year.
“the recent AI, Anthropic Mythos, we see it as a real current threat.”
Arch cites Anthropic's AI models as a real current cyber threat that accelerates the attacker-defender arms race, increasing systemic risk in its cyber insurance book.
“completed the data and system migration of the acquired businesses from Allianz to Arch on systems.”
Arch completed migrating its acquired middle-market commercial (MCE) business, purchased from Allianz, onto Arch systems in 18 months, a key integration milestone.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ACGL Arch Capital Group | 3 | -5.0% | |
| AIG American International Group | 6 | -1.8% | |
| BRK-B Berkshire Hathaway | 7 | n/a | |
| HIG Hartford (The) | 6 | +6.1% | |
| PFG Principal Financial Group | 7 | -4.5% |