New York-based reinsurer Transatlantic Holdings Inc. reported a third quarter net loss of $107.5 million that management attributed to the credit crisis and catastrophe losses.
The company, which has American International Group as its major shareholder, posted a net loss amounting to $1.62 per share, compared to net income of $141.7 million or $2.12 per share in the third quarter of 2007.
For the future, management said it is looking at possible acquisitions and expects to see prices increase in some sectors.
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