Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
XL puts Q3 pre-tax cat loss at $1.48bn
- 11 October 2017
XL Group put its pre-tax cat losses for the third quarter at $1.48bn, net of reinsurance.
The Bermuda-based (re)insurer tied $1.33bn of the losses to Hurricanes Harvey, Irma and Maria, in a statement released late today. Overall, the losses were divided evenly between XL's insurance and reinsurance segments.
On an after-tax basis, XL said the losses for the quarter would be approximately $1.35bn.
"Our estimated losses are largely in line with our expectations," CEO Mike McGavick said.
Pre-tax losses at...
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