Validus Holdings reports a fourth-quarter net loss of $90.7 million on losses tied to Superstorm Sandy—which affected its two biggest classes of business.

Fourth-quarter income in 2011 was $27.3 million.

However, net income for the 2012 full-year was $408.4 million—up from $21.3 million for all of 2011, as full-year underwriting income increased $236.9 million to $248.7 million, compared to 2011.

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