Montpelier Re Holdings Slips To Loss In Q2

(RTTNews) - Montpelier Re Holdings Ltd. (MRH) reported that its second-quarter net loss available to common shareholders was $27.3 million or $0.52 per share, compared to net income of $62.1 million or $1.06 per share in the comparable quarter last year.

Operating income for the quarter was $49.6 million or $0.93 per share, up from $43.6 million or $0.74 per share in the year-ago period. On average, seven analysts polled by Thomson Reuters expected the company to report a loss of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Net insurance and reinsurance premiums written for the quarter declined to $197.8 million from $210.8 million last year. Net insurance and reinsurance premiums earned declined to $138.9 million from $146.4 million in the year ago quarter. Three analysts had consensus revenue estimate of $155.53 million for the quarter.