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Transatlantic records $57m net loss for Q4

02 February 2012

The American firm has reported a net loss of almost $60m for the final quarter of 2011, and a net loss of $99m for the full year.

Read more: transatlantic re Michael Sapnar Financial Results Q4

Transatlantic Re has reported substantial losses in its final financial results of 2011, having been heavily hit by catastrophe events, as well as the costs of its ongoing merger with Alleghany.

The reinsurer reported a net loss of $57 for the final three months of 2011, and a net loss of $99m for 2011.

The firm said that it had been hit by after-tax catastrophe losses of $110m in the fourth quarter, consisting...