Bermuda-based reinsurer Renaissance Re Holdings Ltd. reported 2008 third-quarter income dropped 253 percent because of turmoil in the financial markets and the impact of hurricane losses in the United States.
The company's bottom line for the third quarter saw a shift of $364 million, from net income of $144 million last year, to a net loss of $220 million this year.
The company reported a net loss per share for the quarter of $3.79, compared to a net income of $1.85 a share in 2007.
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