Endurance achieves record net income in 2009
Endurance Specialty Holdings Ltd has announced its financial results for Q4 and 2009.
In Q4 the firm made net income of $154.8m, equating to $2.56 per diluted share, a substantial rise on the Q4 2008 net income of $16.9m, or $0.22 per diluted share.
For 2009 as a whole Endurance achieved a record net income of $536.1m, or $8.69 per diluted share, more than fivefold better than the $98.6m net income ($1.31 per diluted share) of 2008.
The net income for the year is also an increase on the pre-recession year of 2007, when the firm made $521.1m.
Chairman, President and CEO Kenneth J. LeStrange responded to the results by describing the fourth quarter as a strong end to a record year.
This year LeStrange will relinquish the roles of president and CEO, but will stay on as chairman until 2011.
Category: Employment News, Financials, Insurance News
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