XL Capital Taking $160 M Hit

NU Online News Service, Oct. 17, 12:14 p.m.EDT?Hamilton, Bermuda-based XL Capital Ltd announced todaythat its third-quarter net income will be reduced by roughly $160million after-tax as the firm accounts for higher-than-expectedlosses in its North American reinsurance operations.

The company's chief executive said in a statement he wouldpersonally lead a review of all aspects of the book that caused theloss.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.