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Arch Capital Q4 net income falls

Bermuda-based insurer Arch Capital Group reported a net income of $227.7m, or $4.54 per share for common shareholders for the fourth quarter of 2010, compared to $284.7m, or $4.75 per share for the common shareholders for same period of 2009.

After-tax operating income available to common shareholders of $129.5m, or $2.58 per share, for the fourth quarter of 2010, compared to $159.4m, or $2.66 per share, for the fourth quarter of 2009.

The fourth quarter of 2010, the company recorded net losses for the Australian floods that occurred in December 2010 of approximately $22.5m, or $0.45 per share, net of reinsurance and reinstatement premiums.

Total revenues for the fourth quarter of the 2010 were $825.5m, compared to $926.2m for the corresponding quarter of the 2009.

Net premiums earned for the fourth quarter of the 2010 were $482.9m for the fourth quarter of 2010, compared to $519.0m for the same quarter of the last year.