NU Online News Service, Feb. 15, 12:59 p.m. EST
Argo Group International Holdings says 2011 fourth-quarter net income was down 89 percent while fellow Bermuda-based insurer and reinsurer Arch Capital Group says net income fell 40 percent during the last quarter.
An estimate pre-tax catastrophe loss of $36.1 million cut into profits for Argo, which reports net income of $1.4 million for the fourth quarter compared to net income of $12.8 million during the same time the prior year.
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