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UPDATE 1-Endurance Specialty Q4 profit trumps Wall Street view
February 17, 2010 / 9:40 PM / in 8 years

UPDATE 1-Endurance Specialty Q4 profit trumps Wall Street view

* Q4 oper EPS $2.54 vs est $1.58

* Investment income boosts profit

Feb 17 (Reuters) - Endurance Specialty Holdings Ltd ENH.N reported quarterly profit well above Wall Street estimates as the insurer reversed a year-ago investment loss. Net income for the fourth quarter was $154.8 million, or $2.56 a share, compared with $16.9 million, or 22 cents a share, in the year-ago period.

Operating earnings, which typically excludes any investment gains and losses and is closely watched by analysts, were $2.54 a share.

Analysts expected earnings of $1.58 a share, according to Thomson Reuters I/B/E/S.

Net investment income was $59.3 million, compared with a loss of $4.6 million in the year-ago period.

Shares of the provider of property and casualty insurance and reinsurance closed at $37.64 in regular session on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Anil D‘Silva)

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