Transatlantic Holdings

The company, which made a pre-tax loss of $46.0mn, only managed to post a positive net income result because of $84.0mn in income tax benefits

The US based Transatlantic Holdings, which generated a gross premium income of around $3.9bn in 2005, saw its net income drop by 85% from $254.6mn in 2004 to $37.9mn last year. The company writes property and casualty reinsurance business on both a treaty and facultative basis: casualty and property business accounts for around 70% and 30% of premium income respectively. Business written on a treaty and facultative basis accounts for 93% and 7% of premium income respectively.