Endurance reports $92.1 million in net income available to shareholders at the close of the year’s first quarter—a $17.7 million increase in net income compared to the first quarter of 2012.
The company credits the first-quarter income jump to lower catastrophe losses, international expansion in its reinsurance segment and the addition of a specialty underwriting team, including several new leaders in its global insurance and reinsurance operations hired in 2012.
“Our results benefited from low levels of catastrophe losses, favorable development of our loss reserves, and strong investment markets,” said Endurance CEO David Cash during an earnings call.
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