HCC Insurance Profit Falls

(RTTNews) - HCC Insurance Holdings Inc (HCC) on Tuesday reported fourth-quarter net earnings of $113 million or $1.16 per share compared with $115 million or $1.14 per share last year. Earnings per share results for the quarter reflect a lower share count.

Excluding items, the company's operating earnings for the quarter were $102.6 million compared with $111.3 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $1.04 per share for the quarter. Analysts' estimates typically exclude special items.

The company's revenues for the quarter were $670 million compared with $636.6 million in the prior year.

Its net earned premium for the quarter increased to $601.8 million from $560 million a year ago. Analysts estimated revenues of $605.7 million for the quarter.

The company's combined ratio for the quarter was 81.9% compared with 81.2% a year ago.