Endurance 1Q solid but top line falls, KRW reserves up by 4%
Bermudian (re)insurer Endurance increased its reserves for net claims from hurricanes Katrina, Rita and Wilma by $35m or approximately 4% in the first quarter of 2006. However, the increases were offset by favourable 2005 accident year reserve development from within the property and specialty segments and improved investment income.
Endurance’s first quarter net income stood at $107.0m for the first quarter of 2006 versus net income of $96.3m for the same period in 2005. Earned premiums in the quarter were $420.2m, a decrease of
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