HCC Insurance Holdings has reported a net income of $78.3m or $0.74 per diluted share, for the fourth quarter of 2011, which declined when compared to $97.3m or $0.84 per diluted share for the fourth quarter of 2010.
The total revenues for the fourth quarter of 2011 increased to $614.9m, compared to $576.9m for the same period a year ago.
Operating income was $11.97m, compared to $9.8m for the same period in the previous year.
Total net premiums written in the property and casualty insurance segment increased to $521.1m, compared to $486.7m for the same period in the last year.
Net premiums earned in the life insurance segment increased 8% to $550.2m during the quarter.
HCC chief executive officer John Molbeck said HCC had a strong quarter and a solid year despite unprecedented catastrophe losses.
"We look forward to 2012 and an improving pricing environment," Molbeck said.