Rochester, NY 8/17/2009 9:02:13 PM
Transatlantic Holdings Inc., TRH - Transatlantic Holdings, Inc. Release Financial Results for the Second Quarter
Transatlantic Holdings Inc.
Transatlantic Holdings, Inc. release financial reports for the second quarter and six months ended June 30, 2009. This includes a net income for the second quarter of $112 million, or $1.68 per common share (diluted), as compared to $90 million, or $1.34 per common share (diluted), during the same quarter a year ago. The book value per share also increased 6.9% during this quarter, reaching company’s record high of $53.47 at June 30, 2009.
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Commenting on the quarter, Robert F. Orlich, President and Chief Executive Officer, said, “Book value per share grew significantly during the quarter as a result of strong earnings and the positive momentum reflected in certain financial markets compared with earlier this year. The quarter’s earnings benefited from benign catastrophe loss activity and a generally positive underwriting environment, particularly in catastrophe exposed classes.
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