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Montpelier Reports Quarterly Net Income Of $148M

SAN FRANCISCO -- Montpelier Re Holdings said late Tuesday that third-quarter net income came in at $148 million, or $1.68 a share, up from a net loss of $142.2 million, or $1.69 a share, a year earlier. Operating profit, which excludes net realized investment gains and losses, came in at $62 million, or 71 cents a share, in the latest period. Montpelier Re was expected to make 72 cents a share, according to the average estimate of five analysts in a Thomson Reuters survey.

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