Montpelier Re, Endurance report higher profits

HAMILTON, Bermuda--Two additional Bermuda-based reinsurers are reporting increases in net income for the first nine months of this year.

Hamilton, Bermuda-based Montpelier Re Holdings Ltd. late Wednesday reported net income of $180.7 million for the first three quarters of this year. That compares to a net loss of $691.9 million during the same period of 2005.

Also late Wednesday, Pembroke, Bermuda-based Endurance Specialty Holdings Inc. reported net income of $299.3 million for the first nine months of this year. Endurance sustained a net loss of $170.7 million during the same period in 2005.