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Transatlantic Records $107M Loss in 3-Quarter

The company, which has American International Group as its major shareholder, posted a net loss amounting to $1.62 per share, compared to net income of $141.7 million or $2.12 per share in the third q

By Daniel Hays | Updated on October 23, 2008

New York-based reinsurer Transatlantic Holdings Inc. reported a third quarter net loss of $107.5 million that management attributed to the credit crisis and catastrophe losses.

The company, which has American International Group as its major shareholder, posted a net loss amounting to $1.62 per share, compared to net income of $141.7 million or $2.12 per share in the third quarter of 2007.

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