XL Group Estimates Natural Catastrophe Net Losses Of About $250 Mln In Q4

(RTTNews) - XL Group Ltd (XL) announced its preliminary estimate of natural catastrophe net losses of approximately $250 million for the fourth quarter through December 1, 2017. The primary driver of this estimate is the impact of the October 2017 wildfires in Northern California of approximately $200 million primarily from the Company's Reinsurance segment.

In addition, this estimate includes other smaller events through December 1, 2017. These preliminary estimates are pre-tax and net of reinsurance, reinstatement and adjustment premiums and redeemable non-controlling interest. The Company also reconfirmed its previously disclosed overall net losses related to the third quarter 2017 catastrophes.