Specialty insurer Kingsway Financial Services Inc. on Thursday reported stronger profit for the second quarter ended June 30. Premiums written jumped 25%.

Quarterly profit was $27.3 million, or 55¢ a share, up from $16.2 million, or 33¢ a share, a year ago.

Kingsway said earnings were pinched by an unfavorable currency translation as a significant portion of the company’s operations and assets are denominated in U.S. dollars, while the company reports in Canadian dollars, which have risen sharply this year.

The company quarterly gross premiums written of $629.9 million, up from $502.6 million last year.

Revenues rose to $649.9 million from $417.8 million.

Return on equity, meanwhile, climbed to 18.2% from 11.8% on an annualized basis.

Shares of the Kingsway ended the session up 30¢at $18.80 on the Toronto Stock Exchange.

“We are pleased to report record net income and earnings per share for the fourth consecutive quarter”, said Bill Star, president and CEO in a news release.

“We are very pleased with the results of our U.S. operations, and in particular, our non-standard auto results in Illinois which were exceptional.”