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XL Capital hit by Q4 2003 loss

XL Capital has reported that it made a loss of $314.8m in the last quarter of 2003, down substantially on the $214.1m profit made over the same period of 2002.

The company said that the fourth quarter result included the impact of the $694.1m pre-tax reserve charge that it announced in January, which was caused by adverse developments in its North American

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