The Bermuda reinsurer posted a net loss of $115.2 million for 2011, in comparison with a net profit of $212 million in the previous year.
Christopher Harris, president and chief executive officer, said that the company had made ‘strategic progress in 2011.’
“I am confident that Montpelier will continue to build on its strengths in 2012 and capitalize on the increasingly positive prospects for many of our business lines,” he says.
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Montpelier Re, losses