XL Group's 2013 first-quarter net income nearly doubled compared to the same period a year ago as operating income soared thanks to lower levels of large losses.
The Dublin, Ireland-based company says Q1 net income was $350.8 million, compared to $176.6 million in the prior year's first quarter.
CEO Mike McGavick says in a statement, “While none of us are ready to declare victory, particularly with the benefit of a quiet catastrophe and large loss quarter, such results make us all the more driven to deliver consistent, quality performance, even as catastrophes and losses normalize.”
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