Montpelier Re Quarterly Profit Up Slightly
NU Online News Service, April 29, 3:33 p.m. EDT? Montpelier Re Holdings, a Bermuda-based reinsurance company, reported net profit of $109 million for its first quarter, representing a 5 percent rise from the 2003 first quarter, when the company reported $103.8 million in profit.[@@]
The reinsurer's gross premiums written for the first quarter were $333.2 million, compared with $366.6 million reported one year earlier. Net premiums written for the quarter were reported at $297.3 million, lower than $332.3 million reported one year earlier.
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