NU Online News Service, April 26, 11:19 a.m. EDT
First-quarter net income for Bermuda-based Arch Capital Ltd. dropped to $19.3 million from $210.5 million a year ago during the same time due to $178.7 million in catastrophe losses.
The first-quarter catastrophe losses are net of reinsurance and reinstatement premiums and are compared to catastrophe losses of $58.1 million during the 2010 first quarter, says Arch, a worldwide insurer and reinsurer.
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