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Alterra expects $55m-$70m 2011 profit
27 January 2012
Gross premiums written for the year was around $1.9bn, while overall combined ratio reached around 98%, Alterra’s CEO Marston Becker says.
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Alterra
financial results
Q4 2011
Alterra Capital Holdings’ CEO Marston Becker has in a letter to the company’s shareholders said that while the company is pleased with its relative performance through the catastrophes in 2011, it is “obviously not pleased with their absolute impact on our 2011 earnings.”
He noted that overall insured cat losses for the industry “exceeded $100bn for the first time, with economic losses approaching $400bn” adding that Alterra’s total cat losses for 2011 were around $250m.
“The good news is that Alterra expects to be...
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