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XL Says Its Investments Off By $1.2 Billion

The firm announced it expects a third quarter book value for its shares of from $21 to $22.50. Its estimate was as of Sept. 30. Total common share count on that date, was approximately 330.8 million t

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Global insurer and reinsurer Bermuda based XL Capital Ltd. said it estimates that its investment portfolio lost from $1 billion to $1.2 billion in the third quarter.

The firm announced it expects a third quarter book value for its shares of from $21 to $22.50. Its estimate was as of Sept. 30. Total common share count on that date, was approximately 330.8 million the company said.

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