"Book value per share as of Dec 31, 2012, came in at $26.14, up 17% year over year.
Share Repurchase and Dividend Update
Montpelier Re spent $13 million to buyback 0.59 million common shares in the fourth quarter taking the total amount spent to repurchase 5.98 million shares in 2012 to $121 million."
MRH is currently trading at over 25 which puts it at only a 5% discount to book value. I'll continue to look elsewhere until we see a sell-off because AIG and SYA sell at large discounts to book and share buybacks will only enhance that discount.