US-based insurer Transatlantic Holdings has reported a net loss of $57.48m,or $0.98 diluted loss per share, for the fourth quarter of 2011, compared to a net income of $141.76m, or $2.22 diluted earnings per share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 increased to $1.1bn, compared to $1.07bn for the same period in the prior year.
Net investment income has come down to $113.26m, compared to $121.32m for the same period a year ago.
The company posted a net loss of $99.21m, or $1.62 diluted earnings per share, for the full year of 2011, compared to $402.2m, or $6.19 diluted earnings per share, for same period in 2010.
Transatlantic Holdings president and CEO Michael Sapnar said that their book value per share grew 3.4% in 2011, as they benefited from the performance of their non-catastrophe book as well as $261 million of share repurchase activity during the year.