Bermuda-based Arch Capital raked in nearly $688 million last year, the firm’s results have revealed.

The global insurer and reinsurer reported net income available to shareholders of $687.8 million, or $5.07 per share.

That compares to net income of $557.7 million, or $4.03 per share for 2012.

The company’s share price at year end was $39.82, up from $36.19 (ten percent) on 2012.

Gross premiums written amounted to $4.19 billion, compared to $3.86 billion for 2012,

The report added that the company’s investment portfolio had an average credit quality of AA-/Aa2, with 83 percent held in fixed maturities and short term investments. The quality rating was the same in 2012, but with 84 percent of held in fixed maturities and short term investments.