Max Re Capital Ltd. Reports Record First Quarter Net Income of US$1.15 per Diluted Share.
PR Newswire Europe, June, 2006
HAMILTON, Bermuda, June 1 /PRNewswire/ --
Max Re Capital Ltd. (Nasdaq: MXRE) today reported net income for the three months ended March 31, 2006 of US$72.9 million, or net income of US$1.15 per diluted share, compared to net income of US$37.7 million, or net income of US$0.75 per diluted share, for the three months ended March 31, 2005. Net operating income, which represents net income adjusted for net realized gains and losses on sales of fixed maturities, for the three months ended March 31, 2006 was US$74.5 million, or net operating income of US$1.17 per diluted share, compared with net operating income of US$37.3 million, or net operating income of US$0.75 per diluted share, for the three months ended March 31, 2005.
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