HCC Insurance Holdings, Inc. (HCC) reported a rise in fourth-quarter profit to $108.1 million or $1.06 per share, from $78.3 million or $0.74 per share in the comparable quarter last year.
The results for the latest quarter include accident year pretax net catastrophe losses of $32.5 million, which compares to a 2011 pretax net catastrophe loss of $10.0 million.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.65 per share for the quarter. Analysts' estimates typically exclude special items.
For the quarter, net written premiums rose marginally to $522.6 million, from $521.1 million in the same quarter of 2011, while net earned premium for the latest fourth quarter was $566.5 million, up 4% from $550.2 million in the year-ago quarter.
Five analysts expected revenues of $573.26 million for the quarter.
Looking forward to the full-year 2013, HCC estimates net earnings per share in a range of $3.20 to $3.50, while the Street expects the company to report per share earnings of $3.35 for 2013.
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