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PEMBROKE, Bermuda--RenaissanceRe Holdings Ltd. boosted profits to $560.5 million for the first nine months of the year, compared with a loss in the prior-year period.
Net income for the quarter, meanwhile, was $251.1 million, compared to a loss of $287.3 million in the third quarter of 2005.
In a conference call with analysts Tuesday, Neill Currie, chief executive officer of Pembroke, Bermuda-based RenaissanceRe, attributed the strong growth in earnings partly to light insured losses from catastrophes compared with 2005, which caused heavy storm-related loss activity.
RenaissanceRe also reported that gross written premiums increased to $1.75 billion for the first nine months of the year from $1.52 billion in 2005.