HCC Insurance Holdings earned record fourth quarter profits of $108.1mn, compared to $78.3mn in the prior-year period, as cat losses were more than offset by reserve releases.
The quarterly performance pushed the US insurer to best ever profits for the year too, as it booked net earnings of $391.2mn, up from $255.2mn in 2011.
The company benefitted from net favourable development of $35.4mn in Q4 2012 that included $18.9mn of releases from prior-year catastrophe reserves and was well ahead of...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.