Montpelier Re Reports Higher Income

NU Online News Service, Oct. 29, 4 :17 p.m. EST?Montpelier Re Holdings, a Bermuda-based reinsurance company, posted a $91 million profit for its third quarter, compared to $26.6 million reported during the year-ago period.

The reinsurer's net premiums written fell during the third quarter, to $147.7 million from $172.8 million one year ago, while net premiums earned rose, to $162.9 million from $106.4 posted last year. The company's loss and loss adjustment expenses also improved, falling to $35.1 million from $69 million recorded year ago.

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