Max Re Sees Net Drop 65 Percent
NU Online News Service, Nov. 5, 2:48 p.m. EST?Hamilton, Bermuda-based reinsurer Max Re Capital, Ltd. reported income loss of 65 percent for the third quarter that the insurer said was due to poor performance in the equity market.
"Our disappointing investment returns overshadowed a vibrant property and casualty underwriting environment," said Robert J. Cooney, chairman, president and chief executive officer, in a statement.
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