XL Capital: $120 Million Investment Loss
NU Online News Service, July 18, 11:15 a.m. EST?XL Capital Ltd., Hamilton, Bermuda, announced today it expects investment losses of $120 million, mostly from telecommunications holdings, and it will increase reserves $200 million to cover U.S. terrorist losses.
Brian M. O'Hara, president and chief executive officer of XL, said despite an "intensive reserve analysis immediately following Sept. 11, the unprecedented nature of the attacks has resulted in higher losses as information has developed."
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