Montpelier Re Holdings, a provider of property and casualty reinsurance and insurance products, has reported net income of $90.5 million, or $0.97 per diluted share, for the fourth quarter ended December 31, 2007, compared to $122.1 million, or $1.26 per diluted share, reported for the corresponding period of 2006.
Montpelier Re’s operating income was $87.5 million, or $0.93 operating earnings per diluted common share, for the fourth quarter of 2007, compared to $110.5 million, or $1.14 operating earnings per diluted common share, for the same period in 2006.
The company’s comprehensive income was $88 million, or $0.94 comprehensive earnings per diluted common share, for the fourth quarter of 2007, compared to $139.8 million, or $1.45 comprehensive earnings per diluted common share, for the corresponding period of 2006.
For the full-year period ended December 31, 2007, Montpelier Re’s net income was $315.8 million, or $3.31 per diluted share, compared to $302.9 million, or $3.22 per diluted share, for the same period of 2006.
Comprehensive income was $314 million, or $3.29 comprehensive earnings per diluted share, for the full-year period of 2007, compared to $361.5 million, or $3.85 comprehensive earnings per diluted share, for the corresponding period of 2006.
Operating income was $280 million, or $2.93 operating earnings per diluted common share, for the full-year period of 2007, compared to $285.7 million, or $3.04 operating earnings per diluted share, for the same period of 2006.
Anthony Taylor, chairman and CEO, said: This was a robust finish to another strong year resulting in a 5.4% increase in book value per share for the quarter and 17.6% for the year.