Paris Re reports Q3 net income rise as FX gains offset underwriting losses
Paris Re, the French (re)insurer, said that third quarter net income rose to $27.4m from $13m a year earlier, as large currency gains linked to the strengthening dollar against the pound and euro overcame US hurricane-related underwriting losses.
The group reported a $99.4m FX gain in the third quarter, compared to a $62m loss in the same quarter last year. However, the group's reported an operating loss of $53.7m in the third quarter, down
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