ADVFN - Advanced Financial Network.
HOME» NYSE » X » XL Stock Price » XL Stock News

Xl Capital Share News

 Xl Capital Ltd. Stock Price
XL Stock Price
 Xl Capital Ltd. Stock Chart
XL Stock Chart
 Xl Capital Ltd. Stock News
XL Stock News
 Xl Capital Ltd. Company Information
XL Company Information
 Xl Capital Ltd. Stock Trades
XL Stock Trades

XL Group Swings To Red In 1Q On Wide Catastrophe Losses

DOW JONES NEWSWIRES XL Group PLC (XL) swung to a first-quarter loss on wide catastrophe losses from recent natural disasters, and the property and casualty insurer's core loss was deeper than expected. The company, which also provides reinsurance, reported natural catastrophe losses of $387.4 million, net of reinstatement premiums, in its property and casualty operations. The company last month estimated its total losses from March's devastating earthquake and tsunami in Japan would range from $190 million to $290 million, on top of an estimated $70 million to $85 million in losses it already anticipated from a New Zealand earthquake. The period also included severe floods in Australia. As a result, combined ratio--the percentage of premiums paid out on losses and expenses--jumped to 126% from 101% in the P&C business. Excluding the disasters and prior-year development, the ratio would have risen to 101% from 93.1%. Despite the disasters' hit to the bottom line in the latest quarter, analysts have noted that their trauma will likely spur more demand for insurance and reinsurance. For a long stretch, relief from massively damaging events and economic pressure increased the frequency that people skipped coverage. In prior quarters lately, XL's results have improved thanks to investment recovery, as well as higher premiums more recently. Tuesday, XL Group posted a loss of $227.3 million, or 73 cents a share, compared with a year-earlier profit of $143.9 million, or 37 cents a share. Its operating results, which strip out investment gains and losses as well as other items like foreign-exchange effects, swung to a 52-cent loss per share from a 44-cent profit. Net premiums written increased 7.4% to $1.71 billion. Premiums earned in the property-and-casualty operations also rose 0.6% to $1.27 billion. Analysts surveyed by Thomson Reuters predicted a 45-cent operating loss per share on earned P&C premiums of $1.27 billion. Book value per share, a measure of assets and liabilities, declined 2.5% from the prior quarter. XL shares closed Tuesday at $24.20 and weren't active after hours. The stock has risen 36% in the past year, better than the broader market. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Xl Capital (XL)
DateTimeHeadline
12/17/201410:00:05Catlin Gets Offer Approach From XL Group
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:14CR Intrinsic Investors 3Q 13F: Largest Eliminations
07/30/201309:33:01U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
08/08/201209:38:33US HOT STOCK FUTURES: HOT STOCKS TO WATCH
02/10/201208:54:58US STOCK FUTURES: HOT STOCKS TO WATCH
09/27/201116:43:02Corporate Bond Issuers See Opening, Flood Market With New Bonds
09/27/201112:26:10Sanofi Launches $1 Billion, 3-Year Bond Issue
08/02/201117:28:39XL Group 2Q Profit Up 16% As Core Earnings Unexpectedly Rise
06/16/201109:46:50XL Names Insurance-Industry Veteran Porrino As Financial Chief
06/13/201118:57:34XL Group Sees $50 Million To $75 Million In Losses Tied To US...
05/23/201119:05:04XL To Start Search For Financial Chief As Esteves Plans Departure
05/16/201117:51:45Managers Show Quarterly Holdings; Buffett Buys MasterCard Stake
05/03/201117:06:12XL Group Swings To Red In 1Q On Wide Catastrophe Losses
04/06/201111:32:08CORRECT (4/4): XL Group Estimates Japan Losses At $190 Million...
04/04/201118:26:06XL Group Estimates Japan Losses At $190 Million To $200 Million
03/21/201116:44:08AIG, Other Insurers Settle Long-Running Suit Over Bid-Rigging

Xl Capital and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad