Two specialty insurance groups–Houston-based HCC Insurance Holdings and Farmington, Conn.-based Darwin Professional Underwriters–reported big jumps in second-quarter earnings last night, with both underwriting profits and investment income contributing to each group's results.
Both organizations said the bottom-line figures represented record second-quarter numbers for their companies.
For HCC, a specialty group that consists of both underwriting and agency operations, second-quarter net income compared to the same period last year rose 13 percent, or $12.1 million, to $101.2 million, or 86 cents per share, marking the first time in its history that HCC reported quarterly earnings over the $100 million mark.
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