XL Estimate Q4 Catastrophe Loss Of $250M
XL Group Ltd 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, and the estimate includes other smaller events as well.
“Given that facts are still developing, as well as the complexities of the nature of the events, there is considerable uncertainty associated with the loss estimates for these events and such estimates are accordingly subject to revision as additional information becomes available. Actual losses may differ materially from these preliminary estimates,” XL said.
