Validus Holdings Q2 Profit Plunges - Quick Facts

(RTTNews) - Validus Holdings, Ltd. (VR) Thursday reported second-quarter profit of $30.7 million or $0.28 per share, down from $167.6 million or $1.62 per share in the same period last year.

Net-operating income for the quarter was $111.4 million or $1.03 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.88 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums earned improved to $547.5 million from $447.6 million last year. Underwriting income totaled $117.7 million, down from $149.4 million last year.

Combined ratio for the quarter was 78.5 percent, up from 66.6 percent last year.