Renaissance Re Holdings Ltd. reported a 2008 fourth quarter net loss of $55.2 million, or 91 cents per diluted common share, compared to 2007 fourth quarter net income of $62.2 million, or 88 cents per diluted common share.
The Bermuda-based reinsurer said the tumultuous investment environment was the reason for the loss, noting that operating results were strong.
For all of 2008, Renaissance Re reported net loss of $13.3 million, or 21 cents per share, compared to a net income available to common shareholders of $569.6 million, or $7.93 per diluted common share.
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