Bermuda-based insurance and reinsurance group Arch Capital said on Monday that fourth-quarter profit jumped 28 percent, largely attributing the improvement to an increase in premiums written.

The company reported profits of $107.1 million, or $1.45 per share, up from $83.7 million, or $1.22 per share, a year ago.

Operating income, which excludes net realised gains, stood at $117.4 million, or $1.59 per share for the quarter.

Revenues rose 12 percent to $808.3 million from $722.9 million. The company said revenue from net premiums written increased to $675.6 million from $627.4 million.

The results meant that Arch beat the expectations of analysts surveyed by Thomson First Call, with average estimates of $1.38 per share in income.

The company?s combined ratio ? a measure of underwriting profitability ? improved to 87.8 percent from 89.3 percent during the same period last year.

For the year, Arch?s profit rose 13 percent to $316.9 million, or $4.37 per share, from $280.6 million, or $4.14 per share. Revenues increased 32 percent to $3.1 billion from $2.34 billion. Analysts were looking for earnings of $5.46 per share on sales of $3.04 billion.

Scottish Re?s board has declared a quarterly cash dividend of five cents per ordinary share.

The dividend is to be paid on March 9 to those owning company shares as of February 23.

Scottish Re Group Limited is a global life reinsurance specialist. The group has operating companies in Bermuda, Charlotte, North Carolina, Dublin, Ireland, Grand Cayman, and Windsor, England.