Arch Capital has reported a $US251 million ($242.79 million) net profit for the first quarter, up from $US157.8 million ($152.64 million) in the corresponding period last year.

The Bermuda-based (re)insurer booked $US1.16 billion ($1.12 billion) in gross written premium, up 9.1%, and its combined ratio was 84.6%, compared with 90.1% in the first quarter of last year.

Arch recorded $US11.21 million ($10.84 million) in catastrophe losses, down from $US23 million ($22.25 million).