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MRM share price plummets after $46.1M charge

Mutual Risk Management’s share price fell by more than 25 per cent in one day after the firm reported a net loss of $37.7 million for the quarter ended December 31, 2000.
The loss was primarily due to MRM taking an after-tax charge of $46.1 million or $1.11 per share to establish a reserve to settle reinsurance disputes relating to its Program Business.