Montpelier and Arch beat earnings forecasts
Bermudians Montpelier Re Holdings and Arch Capital Group both beat analysts' expectations with bottom line growth in Q2 figures.
Montpelier smashed analysts' consensus on operating income with earnings per share (EPS) of $1.00 - compared to Wall Street predictions of $0.74 a share - representing a 28 percent increase on the prior-year period on a per share basis.
However, the performance was heavily indebted to prior-year reserve releases as it sustained a combined ratio of just 60 percent for the...
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