Endurance: strong underlying second quarter results

Endurance Specialty Holdings Ltd. (NYSE:ENH) reported net income available to common shareholders of $76.6 million and $1.14 per diluted common share for the second quarter of 2016, versus net income of $76.0 million and $1.68 per diluted common share for the second quarter of 2015.

Endurance chairman and chief executive officer John R. Charman said: “Endurance’s second quarter results demonstrated strong underlying underwriting profitability as reflected by our combined ratio of 92.6%. Our embedded risk management practices aligned with our comprehensive reinsurance and retrocessional programs enabled us to achieve underwriting profitability in both business segments despite a number of severe global catastrophes and large risk losses across the industry.” management resulting in a significantly improved general and administrative expense ratio.”

He added: “Strategically, the second quarter reflected our continued focused and diversified core underwriting expansion as evidenced by the 32.0% growth in our gross written premiums.”