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Darwin Professional Underwriters, Inc. Reports Record Net Income of $10.9 Million for the Fourth Quarter
Date:2/27/2008

45,407 23,251

Income tax expense 4,711 2,744 13,165 7,286

Net earnings $10,909 $5,794 $32,242 $15,965

Basic earnings per share:

Net earnings per share $0.65 $0.36 $1.96 $1.38

Weighted average shares

outstanding 16,828,059 16,108,723 16,424,448 9,770,268

Diluted earnings per share:

Net earnings per share $0.64 $0.34 $1.89 $0.95

Weighted average shares

outstanding 17,067,990 17,060,920 17,071,505 16,785,721

Combined ratio:

Loss ratio 50.1% 61.3% 56.0% 66.9%

Expense ratio 27.1% 27.9% 28.1% 27.4%

Combined ratio 77.2% 89.2% 84.1% 94.3%

Darwin Professional Underwriters, Inc. and Subsidiaries

Selected Consolidated Balance Sheets Data

December 31, 2007 and 2006

(Dollars in thousands, except per share amounts)

December 31, December 31,

2007 2006

ASSETS:

Available for sale securities, at

fair value:

Equity securities (cost: 2007, $4,000) $3,680 $ -

Fixed maturity securities (amortized

cost: 2007, $439,748; 2006, $328,201) 445,661 329,846

Short-term investments, at cost which

approximates fair value 107,597 69,537

Total investments 556,938 399,383

Cash 7,469 26,873

Premiums receivable (net of allowance for

doubtful accounts of $75 as of

December 31, 2007 and 2006)
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SOURCE Darwin Professional Underwriters, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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