Endurance Specialty Holdings Ltd. reported net income of $87.6 million for the second quarter of 2016, a 4.1% increase over the prior-year quarter, due to the underwriting performance in its insurance and reinsurance segments, and renewals from Montpelier Re Holdings Ltd., acquired last year.

Total net written premiums increased 28.4% to $717.8 million over the same period of the prior year, the Pembroke, Bermuda-based insurer and reinsurer said Monday in its earnings statement. Net written premiums for the insurance segment were $239.6 million, up 25.9% from last year's second quarter, while net premiums for the reinsurance segment were $478.2 million, up 29.7% from the same period in 2015.

John R. Charman, Endurance's chairman and CEO, remarked during a conference call Tuesday on the success in the retention of Montpelier's risk portfolios, which were “integrated completely, enabling us to manage through a period of increased catastrophe frequency with below-average exposure compared to our market position.”

“The acquisition immediately brought a stronger balance sheet, enhanced relevance in the global catastrophe market and a scalable Lloyd's (of London) business that we're expanding,” he said in the call.

Endurance's total combined ratio deteriorated from 85.5% to 92.6% for the three-month period ending June 30, 2016, according to the statement. The combined ratio for the insurance segment improved to 93.2% from 95.2% in same quarter of 2015; however the reinsurance segment's combined ratio deteriorated to 88.7% from 73.0% in last year's quarter, due to higher catastrophe losses this year.

Catastrophe losses in the second quarter of 2016, including the Fort McMurray, Alberta, wildfires, convective storms in Texas and Europe and the Kumamoto earthquake in Japan, totaled $73.6 million.

Mr. Charman said in the conference call that he was “very pleased” with how Endurance has continued to manage its risk profile and exposures, particularly in light of the fact that “our year-to-date catastrophe premiums grew 65% over the same period of time last year.”

For the first half of 2016, Endurance's net income grew 10.2% to $212.3 million compared with the same period last year. Total net written premiums increased 25.1% to $1.66 billion, with net written premiums for the insurance segment increasing 23.5% to $610.6 million and net written premiums for reinsurance increasing 26.1% to $1.05 billion.