Endurance net income tumbles on hurricanes and investment losses
Endurance, the Bermudian (re)insurer said that fourth quarter net income fell to $16.9m from $152.5m in the same period last year. For the year ended December 31, 2008, net income was $98.6m, down $521.1m in 2007.
Kenneth J. LeStrange, Endurance's chairman and CEO said: "The past year was a challenging one as catastrophe losses exceeded $20 billion for the insurance industry and global financial marketOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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