Montpelier Re Holdings Ltd. (MRH) reported that its first-quarter net loss available to common shareholders was $96.6 million or $1.65 per share, compared to net income of $110.4 million or $1.74 per share in the comparable quarter last year.
Operating income for the quarter was $66 million or $1.18 per share, wider than $16.2 million or $0.27 per share in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to report a loss of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.
Net insurance and reinsurance premiums written for the quarter rose to $226 million from $81.6 million last year. Net insurance and reinsurance premiums earned declined to $156.6 million from $148.3 million in the year ago quarter. Two analysts had consensus revenue estimate of $154.75 million for the quarter.
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