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HCC Insurance Q4 Revenues Up 7% To $590.3m

IBR Staff Writer Published 23 February 2010

HCC Insurance Holdings has reported total revenues of $590.3m for the fourth quarter of 2009, an increase of 7% compared to $551.9m for the same period last year.

The company’s net written premium increased 2.8% to $518.4m during the 2009 fourth quarter, compared $504.2m for the 2008 fourth quarter. Net earned premium for the fourth quarter of 2009 increased 2.0% to $512.8m, compared to $502.6m for the same quarter in 2008.

For the fourth quarter ended December 31, 2009, the company posted a net income of $84.8m, or $0.74 per share compared to $71.6m, or $0.63 per share for the same period last year.

For the full year 2009, the company has reported total revenues of $2.4bn, compared to $2.3bn in 2008. Net premiums written were $2bn and net premiums earned were $2bn. Net income was $353.9m, or $3.11 per share compared to $302.1m in 2008.