Max Re Reverses Losses in Third Quarter

Max Re Capital Ltd. on Monday reported $26.5 million in net income for the third quarter of 2006, or 42 cents per diluted share, compared with a net loss of $44.2 million, or a net loss of 96 cents per diluted share, for the same period last year. Net operating income, which represents net income adjusted for net realized gains and losses on sales of fixed maturities, for the third quarter was $26.8 million, or net operating income of 42 cents per diluted share, compared with a net operating loss of $45.9 million, or a net operating loss of 99 cents per diluted share, for the third qua...