Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Flagstone Reinsurance Q4 net income plunges

Flagstone Reinsurance Holdings has reported a net income $15.0m, or $0.20 per diluted share attributable to common shareholders for the fourth quarter of 2010, compared to $71.5m, or $0.86 per diluted share, for the same quarter of the 2009.

Net premiums earned for the fourth quarter of 2010 were $204.5m, compared to $203.1m for the same corresponding quarter of the last year.

Total revenues for the fourth quarter of 2010 were $228.7m, compared to $235.1m for the same period last year.

Net income attributable to common shareholders for the year 2010, was $97.1m, or $1.23 per diluted share, compared $242.2m, or $2.87 per diluted share, for the year 2009.

Flagstone Reinsurance CEO David Brown said that 2010 was a positive year for Flagstone. Despite an unprecedented number of large international events, the company was able to grow book value by 12.1% for the full year, and by 3.0% in the fourth quarter.