Wells Fargo analyst Elyse Greenspan lowered the firm’s price target on Arch Capital to $110 from $111 and keeps an Overweight rating on the shares. The firm says the company had a strong bottom-line beat as it saw continued strength in reinsurance margins, continued MI reserve releases and higher net interest income. The shares did trade down on comments around choosing not to grow in prop cat during mid-year renewals given the active wind forecast, Wells adds.
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