NU Online News Service, Aug. 3, 2:03 p.m. EDT

Flagstone Reinsurance Holdings said second-quarter gross losses incurred from the Deepwater Horizon oil rig disaster were $45.7 million, including its Lloyd's operation.

But $22.9 million of loss expenses associated with the incident was taken on by Flagstone's sidecar, Mont Fort Re. Mont Fort's loss expenses do not impact Flagstone's net income, Flagstone said.

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