Darwin Professional Underwriters Reports Net Income Increase

Insurance Journal

Darwin Professional Underwriters Inc. in Farmington has reported a 73.7 percent increase in net income for the second quarter and a 2.9 percent decrease in gross written premiums.

Net income at the specialty insurer was $13.5 million or 79 cents a share for the three months ended June 30, compared with $7.8 million or 45 cents a share in the 2007 second quarter.

Gross premiums were $64 million compared with $65.9 million a year ago.

The higher net profit was due to claims taking a smaller bite of premiums, and to the release of $13.2 million ($8.6 million after tax) of unneeded money from claim reserves.

Publicly-traded Darwin has agreed to be acquired by Bermuda-based Allied World Assurance Company Holdings Ltd. Darwin writes medical malpractice and other professional liability insurance, directors and officers liability insurance, and errors and omissions coverage.

see original

You may also like

Legislative panel approves medical malpractice bill
Read more
Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs
Read more
Global Center for Medical Innovation launches
Read more

Recent Posts

Health Insurer Sued for Medical Malpractice Over Prior Authorization

North Carolina Supreme Court Removes Precedent Shielding Nurses from Medical Liability Claims

California Healthcare Providers, Trial Attorneys, Legislators Reach Deal to Increase MICRA Cap

Popular Posts

PIAA 2017: Current Trends & Future Concerns

International Medical Malpractice Insurance

Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs

Start Your Custom Quote Process™

Request a free quote