Ram Holdings has reported total revenues of $13.87m for the first quarter of 2010, a decrease of 44% compared to $24.81m for the same quarter in 2009.
The company posted operating loss of $3.72m for the first quarter ended March 31, 2010, compared to operating loss of $16.61m for the same period last year.
The company earned net premiums of $3.68m for the quarter of 2010, a decrease of 60% compared to $9.2m for the same quarter in 2009.
The company posted net investment income of $3.2m for the first quarter of 2010, a decrease of 6% compared to $3.4m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted net income of $1.8m, or $0.07 per diluted share, compared to a net loss of $1.9m, or $0.07 per diluted share, for the same period last year.
Ram Holdings is a Bermuda-based holding company. Its operating subsidiary, Ram Reinsurance Company, provides financial guaranty reinsurance for US and international public finance and structured finance transactions.