PropertyCasualty360

The Costa Concordia cruise ship disaster is not expected to affect Flagstone’s 2012 results, the Luxembourg-based global reinsurer says. Flagstone reported a net loss for the 2011 third quarter of 59.5 million, compared to net income of $37.3 million in the 2010 third quarter. In October, Flagstone Re announced a new business focus on property, property catastrophe and highest-margin short tail specialty reinsurance.
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