Transatlantic scrapes 2005 net profit
Transatlantic Holdings, the parent of Transatlantic Re, has announced 2005 net profits of $37.9mn, down from $254.6mn in 2004 after booking a fourth quarter net profit of $13.5mn, compared to $98.9mn in the prior-year period.
Like many of its peers, the year's results were significantly damaged by hurricane losses, with an estimated pre-tax impact from catastrophe loss events totalling $544mn.
The fourth quarter included a $99mn pre-tax from hurricane losses, primarily relating to Hurricane Wilma.
The company's chairman, president and...
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