Max Capital Group Ltd. reported $94.1 million in net income for the second quarter, with $68.1 million of the total coming from gains on nontraditional investments.
The Bermuda-based specialty and reinsurance company, which has historically maintained a more diversified investment strategy than traditional insurers, holds roughly 23 percent of its investments in nontraditional alternatives like a fund of hedge funds.
Net income in second-quarter 2007 was nearly five times the prior-year second-quarter figure of $20.0 million, which had included $5.6 million of losses from alternative investments.
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