Taytum Buford(Period 6)-Net Income

Summary: Endurance Specialty Holdings Ltd. (ENH) today reported net income available to common shareholders of $106.4 million and $1.58 per diluted common share for the first quarter of 2016 versus net income of $100.3 million and $2.23 per diluted common share for the first quarter of 2015. Book value per diluted common share was $67.03 at March 31, 2016, up 2.4%.  John R. Charman, Chairman and Chief Executive Officer, commented, "I am delighted with the excellent underwriting profitability that my colleagues in Endurance have generated in the first quarter. Our combined ratio of 77.9% reflects both the continuing high quality of our global underwriting activity as well as the very successful integration of our acquisition of Montpelier. In addition to retaining nearly all the Montpelier business we had anticipated, our speedy and smooth operational integration has generated the planned expense synergies that are already clearly visible in our financial results. While global competition across both Insurance and Reinsurance has continued in line with our expectations, our unique execution, based on targeted, profitable growth, continues to be highly successful. This integrated, corporate underwriting strategy is driven daily by our market leading underwriters implementing our very disciplined risk selection procedures. Endurance is now able to fully leverage the significant global investments that we have made over the last three years in people, products, geographies, systems and analytics to positively differentiate our underwriting performance and profitability regardless of how challenging market conditions may be."
Analysis: I don't know much about net income yet because we are still learning about that in Algebra yet. But from what I understand, net income is the amount of money a family brings in per month. So, I guess it is good that our amount of money that we are bringing in is good because it means people are making more money. This is better than last year since we have gone up 2.4%.