Endurance Specialty Holdings has reported net income of $128.2m for the third quarter of 2006 versus a net loss of $377m in the third quarter of 2005.
For the nine months ended 30 September 2006, net income was $299.3m versus a net loss of $170.7m for the same period in 2005.
The company reported total premiums written of $482.8m, including gross premiums written of $476.2m and deposit premiums of $6.6m, increased 19% over the same period in 2005. The combined ratio was 80.6%.
Kenneth LeStrange, chairman and CEO, said: “I am extremely pleased with the record level of earnings that Endurance achieved this quarter. Our results benefited from strong pricing and lower than expected losses in our catastrophe exposed businesses. We continue to see significant opportunities and believe our portfolio has the potential to continue generating attractive returns for Endurance.”
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