NU Online News Service, Oct. 30, 3:20 p.m. EDT
XL Capital Ltd. reported a 2009 third-quarter net loss available to ordinary shareholders of $11.4 million. Though the (re)insurer posted a loss for the quarter, it was significantly less than the 2008 third-quarter net loss of $1.6 billion.
Hamilton, Bermuda-based XL Capital Chief Executive Officer Mike McGavick credited solid underwriting and careful expense management with the turnaround, but acknowledged that "clearly there are areas for continued improvement."
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