XL takes $1bn 3Q loss, unveils deal with new cat reinsurer
Bermudian reinsurer XL Capital has reported a net third-quarter loss of $1,049.2m, or $7.53 per ordinary share, compared with net income of $22.5m, or $0.16 per ordinary share, for the same period in 2004.
The company said that the net loss included previously announced pre-tax net losses from Hurricane Katrina of $1,158.8m, Hurricane Rita of $263.6m and other natural catastrophes of $89.7m. XL saidOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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