Max Re Capital Ltd. Reports First Quarter Net Income of US$0.74 per Diluted Share.
PR Newswire Europe, April, 2005
HAMILTON, Bermuda, April 29 /PRNewswire/ -- Max Re Capital Ltd. (Nasdaq: MXRE) today reported net income for the three months ended March 31, 2005 of US$36.8 million, or net income of US$0.74 per diluted share, compared to net income of US$43.0 million, or net income of US$0.87 per diluted share, for the three months ended March 31, 2004. Net operating income, which represents net income reduced by net realized gains on sale of fixed maturities, for the three months ended March 31, 2005, was US$36.4 million, or net operating income of US$0.73 per diluted share, compared with net operating income of US$37.2 million, or net operating income of US$0.75 per diluted share,for the three months ended March 31, 2004.
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