Arch Capital’s profit slides amid cat lossesBermudian firm Arch Capital Group Ltd. posted a 15% year-on-year decline in its second-quarter net income to just over $1 billion, as its insurance segment’s underwriting income fell 79% to $27 million, partly due to increased catastrophe losses, The Royal Gazette reported. The company’s gross premiums written stayed mostly flat at $6.1 billion, while its combined ratio deteriorated to 83% from 81% a year earlier.