Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

NYMAGIC Posts Q2, H1 2009 Results

Net income of $14.2 million, or $1.65 per diluted share

NYMAGIC, a US-based insurance holding company which offers property and casualty insurance, has reported a net income of $14.2 million, or $1.65 per diluted share for the three months ended June 30, 2009. This is in comparision to net losses of $4.7 million, or $(.55) per diluted share, for the second quarter of 2008.

The net income for the six months ended June 30, 2009 totaled $17.7 million, or $2.05 per diluted share, as compared to net losses of $34.5 million, or $3.98 per diluted share, for the six months ended June 30, 2008.

Gross premiums written totaled $50.3 million and net premiums written totalled $35.3 million for the second quarter of 2009, as compared to gross premiums written of $47.6 million and net premiums written of $34.3 million during the second quarter of 2008.

The company’s gross premiums written totalled $117.9 million and net premiums written totaled $88.3 million for the six months ended June 30, 2009, compared to $119.2 million and $94.2 million repectively, during the first six months of 2008.

The combined ratio was 93% for the three months ended June 30, 2009 as compared to 130.1% for the same period of 2008. NYMAGIC’s combined ratio was 96.4% for the six months ended June 30, 2009, as compared to 114.4% for the same period of 2008.