Bermuda-based property and casualty insurer Endurance Specialty Holdings has announced its first quarter 2003 results, revealing a combined ratio of 83.4%.
Endurance also revealed that it generated $51.2m (£31.7m) net income in the first three months of 2003. The international insurer also claimed it increased its gross written premiums from $130.9m (£80.9m) in 2002, to $362.1m (£225m) in the first three months of 2003.
Chairman, president and CEO Kenneth LeStrange said: "Endurance delivered excellent results in the first quarter of 2003. Our focused underwriting platform and technical risk analysis continue to drive our company and results.
"In addition to completing a successful initial public offering in an extremely difficult market, we have also met or exceeded our expectations in all critical areas."
