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Montpelier Re Holdings Ltd. Reports Operating Results (10-K)

February 25, 2011 | About:
10qk

10qk

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Montpelier Re Holdings Ltd. (MRH) filed Annual Report for the period ended 2010-12-31.

Montpelier Re Holdings Ltd. has a market cap of $1.3 billion; its shares were traded at around $19.43 with a P/E ratio of 8.2 and P/S ratio of 1.8. The dividend yield of Montpelier Re Holdings Ltd. stocks is 2.1%.Hedge Fund Gurus that owns MRH: Bruce Kovner of Caxton Associates, Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns MRH: Donald Smith of Donald Smith & Co., Third Avenue Management, Chuck Royce of Royce& Associates, Murray Stahl of Horizon Asset Management, Jeremy Grantham of GMO LLC.

Highlight of Business Operations:

At December 31, 2010 and 2009, the Company had $3,219.4 million and $3,099.2 million of consolidated total assets, respectively, and shareholders equity of $1,628.8 million and $1,728.5 million, respectively. The Companys headquarters and principal executive offices are located at Montpelier House, 94 Pitts Bay Road, Pembroke, Bermuda HM 08.

At December 31, 2010 and 2009, our Montpelier Bermuda segment had $2,792.6 million and $2,787.3 million of total assets, respectively, and shareholders equity of $1,912.8 million and $2,024.9 million, respectively.

At December 31, 2010 and 2009, our Montpelier Syndicate 5151 segment had $310.0 million and $205.1 million of total assets, respectively, and a shareholders equity (deficit) of zero and $(2.5) million, respectively.

At December 31, 2010 and 2009, our MUSIC segment had $101.1 million and $77.2 million of total assets, respectively, and shareholders equity of $38.6 million and $45.5 million, respectively.

The majority of the reinsurance products we currently write are in the form of treaty reinsurance contracts, which are contractual arrangements that provide for the automatic reinsurance of a type or category of risk underwritten by our clients. When we write treaty reinsurance contracts we do not evaluate separately each of the individual risks assumed under the contracts and are largely dependent on the individual underwriting decisions made by the cedant. Accordingly, we consider the cedants risk management and underwriting practices in deciding whether to provide treaty reinsurance and in appropriately pricing the treaty. The majority of our current treaty reinsurance book of business represents short-tail property reinsurance, which includes retrocessional business. Our gross short-tail treaty reinsurance writings totaled $468.4 million, $471.5 million and $496.8 million during the years ended December 31, 2010, 2009 and 2008, respectively. We also write a modest amount of long-tail treaty reinsurance business, mainly casualty risks, which totaled $72.1 million, $52.6 million and $41.0 million during the years ended December 31, 2010, 2009 and 2008, respectively.

Our gross short-tail direct insurance and facultative reinsurance writings totaled $144.5 million, $84.8 million and $54.5 million during the years ended December 31, 2010, 2009 and 2008, respectively. We also write long-tail direct insurance and facultative reinsurance business, mainly casualty risks, which totaled $35.0 million, $26.0 million and $27.7 million during the years ended December 31, 2010, 2009 and 2008, respectively.

Read the The complete Report

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