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February 13, 2014

Allied World reverses 4Q loss on better weather

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.

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