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25 February 2018

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XL Group pegs Q4 cat losses at $250mn

Laura Board 7 December 2017

XL Group put its fourth quarter natural catastrophe losses to date at $250mn, the vast majority of which emanated from the California wildfires.

The Bermudian said the fires in Northern California in October accounted for about $200mn of the $250mn total, which was net of reinsurance.

The estimate covers the period up to 1 December, with the wildfires primarily hitting XL Group's reinsurance operations.

The $250mn net loss figure equated to 2.5 percent of XL Group's common shareholders' equity of...

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