Montpelier Re makes $159m profit in Q2
Montpelier Re Holdings Ltd has announced that its operating income for Q2 was $68m, or $0.76 per share.
Net income for the quarter was $159m, $1.81 per share.
For the first six months of the year the firm recorded operating income of $116m, equating to $1.31 per share.
Montpelier made a net income of $211m for the first half of 2009, which equates to $2.42 per share.
This is a large improvement on the firm’s performance in last year, when it recorded net profits for the first six months of $44m.
President and chief executive office Chris Harris has described the firm’s financial performance over the quarter as excellent, particularly praising the low loss ratio and solid investment which helped lead to fully converted book value per share rising by 11.1%.
Category: Companies News, Financials, Insurance News
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