Endurance Specialty Holdings Ltd. (ENH) Reports Q1 EPS of $2.17

After the close, Endurance Specialty Holdings Ltd. (NYSE: ENH) reported Q1 EPS of $2.17, versus $2.13 reported last year. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $920.34 million.

John R. Charman, Chairman and Chief Executive Officer, commented, "During the first quarter we generated strong financial results as evidenced by our annualised operating return on equity of 15%. The transformation of Endurance began 12 months ago and as we promised, the much improved financial and operating performance is now emerging. This quarter our London Insurance underwriting platform is now fully staffed and we have realised significant, attractive, across-the-board premium growth from all our newly added US specialty underwriting teams. We successfully expanded our global specialty business whilst at the same time continuing the overall rebalancing and repositioning of our global reinsurance portfolio. From a strategic perspective we significantly increased our reinsurance purchasing activity across both our Insurance and Reinsurance portfolios to optimise the risk/ reward characteristics of our business."

"Whilst we have planned for market conditions on both sides of our balance sheet to remain extremely challenging over the next couple of years, we have deliberately positioned Endurance to outperform in this environment. We remain dedicated to achieving superior returns for our valued shareholders."

For earnings history and earnings-related data on Endurance Specialty Holdings Ltd. (ENH) click here.

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