Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
July 30, 2009

Montpelier Re makes $159m profit in Q2

by Richard Kilner

Story link: 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%.


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