Paris Re stumbles into red in Q1 on FX loss
Paris Re, the French reinsurer, reported a first quarter loss of $129.5m compared with a gain of $35.6m this time last year due to a $183m monster foreign exchange loss.
Paris Re blamed the 13% deterioration of the dollar against the Swiss Franc, which "accounted for approximately $133m in after-tax currency losses".
The loss offset a first quarter net operating
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