Paris Re 1H hit by costs, write-offs and Cats
Global reinsurer Paris Re (comprising the former business of Axa Re) has unveiled first half 2007 net income of $80m, down 38% on a year earlier, despite higher investment returns. The firm blamed catastrophe losses and amortisation costs relating to the firm’s takeover.
Paris Re net written premium for the first half of 2007 was $855m, which was down 5.9% from the first half of 2006. The company said the reduction 2007 was largely due to its decision to reduce its
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