NU Online News Service, Feb. 10, 11:37 a.m. EST

XL Group says it took a 2011 fourth-quarter net loss of $515.5 million on a large impairment charge and catastrophe losses.

Catastrophe losses during the last quarter of 2011, net of reinsurance and reinstatement premiums, were $194.9 million, but the company's results were mainly driven by a non-cash goodwill impairment charge of $429 million, says XL.

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