Max Capital Group Ltd. reported a third quarter net loss of $163.2 million, or $2.79 per fully diluted share, compared to 2007 third quarter net income of $66.8 million, or $1.05 per fully diluted share.
The Bermuda-based specialty insurer and reinsurer cited the "unusually difficult investment environment" as a primary reason for the results.
The company reported a net operating loss of $146.1 million, compared to net operating income of $68.4 million a year ago.
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