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Catlin posts $71m pre-tax profit for 2011
09 February 2012
Bermuda-domiciled (re)insurer Catlin noted some considerable rate rises at renewals, but sustained $961m in gross losses from natural catastrophes in 2011.
Catlin has announced a $71m profit for 2011, down from $406m the previous year.
The Bermuda-based, UK-listed (re)insurer said it had $961m in gross losses from natural catastrophes in 2011, translating into a net cat loss figure of $678m.
The firm said its catastrophe aggregate protection responded as anticipated to cat losses sustained in the second half of 2011.
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