Having nudged up its third quarter profit by just over $3 million to $131.4 million, Endurance Specialty Holdings is anticipating good things for the remainder of 2007 and 2008 in light of its impending acquisition of US crop insurance business ARMtech.

The Bermuda-based insurance and reinsurance company wrote 12 percent less premiums year-on-year and saw its combined ration edge up 1.5 percent to 79.6 percent.

Chairman and chief executive officer Kenneth J. LeStrange, said: "I am very pleased with the strong financial results that Endurance achieved during the third quarter.

"Although increased levels of competition appear likely as we move forward into the end of 2007 and 2008, I am confident that our specialty focus, our disciplined underwriting approach and our agile response to market opportunities will serve us well in the face of fluctuating market conditions.

"During the third quarter, we announced several strategic initiatives, including our pending acquisition of ARMtech Insurance Services, a specialty writer of US federally sponsored crop insurance, the addition of specialty insurance and reinsurance underwriting teams and a variable forward equity transaction.

"We believe these initiatives will enhance Endurance's specialty underwriting capabilities and financial flexibility in 2008 and beyond."