XL Capital Taking $160 M Hit
NU Online News Service, Oct. 17, 12:14 p.m. EDT?Hamilton, Bermuda-based XL Capital Ltd announced today that its third-quarter net income will be reduced by roughly $160 million after-tax as the firm accounts for higher-than-expected losses in its North American reinsurance operations.
The company's chief executive said in a statement he would personally lead a review of all aspects of the book that caused the loss.
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