Montepelier makes minor Q1 gains despite cat losses
Montpelier Re, the Bermudian (re)insurer, managed to eke out a gain in the first quarter of the year, despite having a monster jump in combined ratio.
Net income for the first three months of the year rose to $10m, mainly due to foreign exchange and investments of $33m. Losses in Chile and Europe contributed to the group recording an operating loss
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