NU Online News Service, Aug. 8, 2:20 p.m. EDT

XL Group reports 2012 second-quarter earnings 15 cents above consensus estimates, but still 5.3 percent lower than last year. Operating income was also down 8.7 percent compared to the same period a year ago.

Though the second quarter experienced solid underwriting results, lower investment yields and income from operating affiliates offset the positive impact. However, company officials say some of the decline stemmed from what they termed “targeted non-renewal.”

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