HCC Insurance Q1 Profit Rises - Quick Facts

(RTTNews) - HCC Insurance Holdings, Inc. (HCC) on Tuesday reported first-quarter net earnings of $107.9 million or $1.07 per share, up from $105.9 million or $1.05 per share in the year-ago period.

The 2014 and 2013 results included accident year pretax net catastrophe losses of $4.6 million and $5.2 million, respectively, which reduced net earnings by $0.03 per share in both quarters.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net earned premium for the quarter edged up slightly to $562.6 million, while investment income rose 1 percent to $56.8 million. Analysts expected revenues of $565.62 million for the quarter.

Combined ratio was 83.0 percent, compared to 83.8 percent in the same period last year.