Glacier's net income more than halves
Glacier insurance, the Switzerland-based (re)insurer, saw net income tumble to $26.2m from $69.5m the year before after heavy hurricane losses hit its bottom line.
The company upped its Ike estimate to $100m from $65m, which pushed the combined ratio to 99.6% from 75.5%.
The group reported gross written premiums of $569.3m, up 22% from $465.7m the year earlier.
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