Swiss reinsurer Allied World Assurance Co., which has Farmington operations, said a steep drop in catastrophe losses helped it book $137.9 million in fourth-quarter profits, reversing a $41.1 million loss a year earlier.
Profits were $4.10 per diluted share, up from a loss of $1.17 per share a year ago.
However, Allied’s annual profits dipped 15 percent to $417.9 million, or $11.95 per share, largely thanks to lower investment income.
