Montpelier Re Q1 net income plunges
Montpelier Re, the Bermudian (re)insurer, reported that first quarter net income plunged to just £0.3m from £73.3m in the first three months of 2007 after losses from key commercial properties came through.
Operating income for the first three months more than halved, falling to £60.3m from £28.2m.
The combined ratio was 89.7% compared to 65.6% in the first quarter of 2007. The loss ratio for the quarter
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