Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
July 27, 2011

Endurance returns to quarterly profitability

by Richard Kilner

Story link: Endurance returns to quarterly profitability

Endurance Specialty Holdings Ltd. has reported that in the second quarter of the year it made a net income of $41.1m, equating to $0.87 per diluted common share.

This is down on the corresponding period last year, when the firm made net profits of $58.6m ($0.97 per diluted common share), but a welcome return to the black after incurring a Q1 net loss of $87.4m ($2.25 per diluted common share).

Quarterly net written premiums fell 2% to $441.8m, but biannual net written premiums rose 7.5% to $1,240.6m.

For the first six months of the year Endurance suffered a net loss of $46.3m ($1.36 per diluted common share), compared to the first half of 2010 when the firm made $114.4m ($1.88 per diluted common share).

Chief Executive Officer David Cash said that he was pleased with the firm’s performance given substantial global catastrophes and drought in the Southwest United States.

 

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