Max Capital Group Ltd. (MXGL) reported net income of $62.6 million or $1.08 per share for the fourth quarter, compared to a net loss of $94.1 million or $1.67 per share in the prior year quarter.
Net operating income was $60.5 million or $1.04 per share, compared to a loss of $85.5 million or $1.52 per share in the year-ago quarter.
Total revenues for the fourth quarter increased to $268.3 million from $259.5 million in the previous year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share on revenue of $266.55 million for the quarter. Analysts' estimates typically exclude special items.
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