NU Online News Service, May 9, 12:27 p.m. EDT

A reduction in catastrophe losses allowed XL Group to swing to a first-quarter profit after suffering a loss in 2011's first quarter.

The Dublin-based global insurer and reinsurer says first-quarter natural-catastrophe losses were $20 million, net of reinsurance and reinstatement premiums, compared to natural-catastrophe losses of $387.4 million during last year's first quarter.

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