The effects of Hurricanes Gustav and Ike were felt most acutely among Bermudian companies, for which non-life underwriting has been a more significant source of income. The USD 2.4 billion non-life underwriting result for the first nine months of 2007 fell 82 percent to USD438 milion for the same period in 2008. Guy Carpenter Bermuda Composite earnings were virtually unaffected by investment movements as of September 20, 2007, but were heavily affected at the same point in 2008.
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