XL Group Q3 Profit Tops Estimate

(RTTNews) - XL Group plc (XL) reported net income for the third quarter of $72.4 million or $0.27 per share, compared to $135.6 million or $0.47 per share for the year-ago quarter.

Operating net income for the third quarter rose to $187.1 million or $0.70 per share from $154.6 million or $0.53 per share in the prior year quarter, mainly due to higher underwriting profit in the current quarter.

Total revenue for the third quarter was $1.69 billion, compared to $1.88 billion last year. Net premium earnings in the third quarter was $1.47 billion, compared to $1.63 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.63 per share on revenue of $1.43 billion for the third quarter. Analysts' estimates typically exclude special items.