Transatlantic FY net income drops 79%; shares tumble
Transatlantic Holdings, the US reinsurer, reported a 79% drop in net income for 2008, after catastrophe losses and lower investment income heavily impacted the company's bottom line.
Transatlantic Re said that full year net income dropped to $102.3m compared to net income of $487.1m. Fourth quarter net income fell to just $4.4m, compared to $112.5m the year before.
In early trading
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