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Daily Insurance Industry News
Thursday 18th of October 2018
July 28, 2010

Endurance reports Q2 and H1 results

by Richard Kilner

Story link: Endurance reports Q2 and H1 results

Endurance Specialty Holdings Ltd. has reported that in Q2 2010 it earnt net profits of $58.6m, equating to $0.97 per diluted common share.

This is substantially less than its results in the same period last year, when the firm made net profits of $149.1m, $2.42 per diluted common share.

However, it does mark an improvement on the Q1 net profit of $55.8m ($0.91 per diluted common share).

In Q2 net investment income fell by $55.5m to $33.4m, with net written premiums down 6.1% to $450.8m.

For the first half of the year, Endurance recorded net profits of $114.4m, or $1.88 per diluted common share, approximately half that of the first six months of 2009 when the firm made net profits of $227.4m, or $3.65 per diluted common share.

In the first half of the year net written premiums fell by 8.5% to $1,153.7m, and net investment income declined by $63.6m to $89.8m.

Chief Executive Officer David Cash described the firm’s financial results as solid and said that the quarter’s operating conditions were challenging.

 

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