The following is a discussion and analysis of the financial condition and results of operations for the year ended December 31, 2021 and 2020. Tabular amounts are in U.S. Dollars in thousands, except share amounts, unless otherwise noted. GENERAL Overview Arch Capital Group Ltd. is a publicly listed Bermuda exempted company with approximately $16.3 billion.
The financial and business analysis below provides information which the Company believes is relevant to an assessment and understanding of its consolidated financial position, results of operations and cash flows. The following discussion of our financial condition and results of operations should be read in conjunction with our consolidated.
Kinsale Capital Group, Inc. reported net income of $48.3 million, $2.09 per diluted share, for the fourth quarter of 2021 compared to $38.2 million, $1.65 per diluted share, for the fourth quarter of 2020. For the year ended December 31, 2021, net income included after-tax catastrophe losses of $6.8 million. Net operating earnings were $132.4 million, $5.74 per.
The accompanying consolidated financial statements and related notes have been prepared in accordance with United States generally accepted accounting principles and include the accounts of Markel Corporation and its consolidated subsidiaries, as well as any variable interest entities that meet the requirements for consolidation.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. These forward-looking statements are estimates based on information currently available to the Company, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to the cautionary statements set forth on.