DOW JONES NEWSWIRES XL Group PLC (XL) estimated net losses related to storms in the midwestern and southeastern U.S., including devastating tornados, would total $50 million to $75 million. The property and casualty insurer's estimate was pretax and net of reinsurance and reinstatement premiums, with the majority attributable to XL Group's reinsurance segment. The company, which also provides reinsurance, and its peers have been stung for over a year by a number of losses that occurred in New Zealand and Australia, as well as a huge earthquake in Chile and an earthquake and tsunami and Japan. Last month, XL Group reported it swung to a first-quarter loss on wide catastrophe losses from recent natural disasters, and the company's core losses were deeper than expected. Shares rose 0.6% to $21.07 in after-hours trading. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com
