almost threefold at Bermuda reinsurer LaSalle Re, which announced third quarter results yesterday. The company expects stronger pricing to continue through the 2001 renewal cycle.

Income for the quarter ended June 30, before minority interest, was $16.3 million, compared with $5.5 million for the same quarter in 1999. Earnings per share were 71 cents, compared with 19 cents for the quarter ended June 30, 1999.

"We are seeing an increase in rates for our core property catastrophe line of business which is indicative of an improving market'' said Guy D. Hengesbaugh, the company's president and CEO.

"Our prudent reserving practices allowed us to avoid further impact of the dramatic development of catastrophe losses which took place last year.'' LaSalle's earnings during the preceding quarter were hit hard by European storms in December of 1999.

Gross premiums written for most recent quarter were $32.1 million, compared with $20.8 million for the third quarter of 1999 -- an increase LaSalle attributed largely to property catastrophe business.

Net premiums earned for the quarter were $28.8 million, compared with $32.1 million a year earlier. Net investment income in the quarter increased to $9.3 million from $8.5 million in the third quarter of the 1999 fiscal year.

The lower premium figures were offset by smaller losses, which stood at $9.7 million for the quarter, compared with $24.8 million last year.

But LaSalle's impressive results for the quarter could not salvage disappointing figures from earlier this year. The company operated at a loss of $22 million, or $1.32 per share, for the first nine months of fiscal 2000, ended June 30. Last year the company reported a loss of $1.4 million, or 31 cents per share, for the same period.

Gross premiums written were $107.6 million, compared with $121.2 million for the nine months of 1999.

LaSalle Re posts net income rise Net premiums earned for the nine months were $86.4 million, compared to $105.3 million in 1999. Net investment income was $26.8 million for the first nine months of 2000, compared to $25.3 million for the corresponding period of 1999. Net losses and loss expenses for the first nine months of fiscal 2000 were $99.9 million, compared to $105.6 the year before.

LaSalle is expected to merge with the Trenwick Group Inc., an American Insurer, before the end of September.