Farmington-based Darwin Professional Underwriters, a specialty insurance group, recorded a 185 percent increase in net income in Q1 2008 to $14.9 million from $5.2 million at the same time last year – the highest net income in the company’s operating history.
“Darwin’s strategy has been to distinguish ourselves with great service, to add value to our clients through product innovation, and to provide risk management services wherever possible,” Darwin’s president and CEO, Stephen Sills, said in a statement. “We also remain focused on ‘getting bigger’ by ‘getting smaller’, that is, by building our small business franchise in all of our major lines of business. We are also pleased to report that we have renewed our two major reinsurance programs at favorable terms and have been able to increase the ceding commission we receive on business subject to these treaties.”
