Arch Capital Group Ltd. (ACGL, Financial) is a specialty insurance and reinsurance company based in Bermuda. The company reported solid first quarter financial results with 15% growth in book value per share. Despite a soft reinsurance pricing environment, underwriting profitability remains strong, catastrophe losses remain benign, and the company continues to experience favorable reserve development. The share price has also benefited from mergers and acquisitions activity and speculation in the property and casualty insurance industry. (Josh Saltman)
From Baron Funds' second quarter 2015 commentary.
