XL Catlin recorded a net income of $US301.6 million ($378.14 million) in the second quarter, up from $US43.8 million ($54.9 million) in the corresponding period last year, aided by lower catastrophe losses.

“In the second quarter we remained focused on disciplined underwriting and are pleased with our overall results,” CEO Mike McGavick said.

Pre-tax catastrophe losses net of reinsurance and reinstatement premiums declined sharply to $US92.1 million ($115.47 million) from $US240.1 million ($301 million).

The property and casualty (P&C) combined operating ratio improved to 92.3% from 96%.

P&C gross written premium increased to $US3.55 billion ($4.45 billion) from $US3.53 billion ($4.42 billion) and the loss ratio strengthened to 60.8% from 64.6%.