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Big drop in net income at Transatlantic Holdings.
(From InsuranceNewslink.com)
Transatlantic Holdings has posted a 79% drop in net income at $102.3m for 2008-the net income for the fourth quarter dipped to $4.4m from $112.5m, reports Post Magazine.
Robert Orlich, the company's chairman, president and ceo said in a statement "2008 was an extraordinary year. Tumultuous activity in financial and credit markets caused significant impairment write-downs in our investment portfolio and ...
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