Bermuda-based Endurance Specialty Holdings has reported a net loss of $35.56m, or $0.88 diluted loss per share, for the fourth quarter of 2011, compared to a net profit of $107.35m, or $2.09 diluted earnings per share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 rose to $544.29m, compared to $513.62m for the same period in the prior year.
Endurance’s Net investment income declined to $40.59m, compared to $56.87m for the same period a year ago.
Net premiums written increased 18.8% to $187.86m, compared to $158.12m for the same period in the previous year.
Net premiums earned were $500.48m, compared to $449.73m for the same period in the last year.
Endurance CEO David Cash said that 2011 was a challenging year with global industry catastrophe losses in excess of $100 billion, Endurance was well positioned to benefit from the improving underwriting conditions they are beginning to see in many of their businesses.