Hashtag: #XLCapital
XL Estimate Wildfires Catastrophe Loss Of $45M
XL Group Ltd announced preliminary estimates of natural catastrophe net losses of approximately $45 million related to the recent wildfires in Southern California and $20 million related to other events. The estimated losses are approximately evenly split between the Company’s Insurance and Reinsurance segments. “Total aggregate net loss estimates... Read more of this article
XL: Rosengarten Retires & Norton Appointed
XL Group Ltd announced that Jacob Rosengarten, Group Chief Enterprise Risk Officer, retired effective December 31, 2017. Fielding Norton, who previously held the position of Deputy Chief Enterprise Risk Officer, has been appointed as his successor, subject to Bermuda immigration approval. Prior to joining XL in 2010, Mr. Norton was Chief Risk Officer... Read more of this article
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... Read more of this article
James Nevels Joins XL’s Board Of Directors
XL Group Ltd announced that James E. Nevels has joined the Company’s Board of Directors. Mr. Nevels has extensive financial services and board experience, including as Chairman of The Swarthmore Group, an investment advisor firm he founded in 1991, and as Chairman [2009-2015] and Lead Independent Director [2015-2017] of The Hershey Company. He also... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that its Board of Directors declared a quarterly dividend on October 26, 2017 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on January 2, 2018 to common shareholders of record as of December 15, 2017. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL To Delist... Read more of this article
XL To Move XLICSE From UK To Ireland
XL Group announced its plans to move its principal European Union [EU] insurance company, XL Insurance Company SE [XLICSE], from the UK to Ireland in 2018, with the company saying the move is “in response to Brexit.” The announcement comes following a meeting between An Taoiseach, Leo Varadkar and XL Group’s Chief Executive Officer, Mike... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that the Board of Directors of the Company declared a quarterly dividend on August 2, 2017 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on October 2, 2017 to common shareholders of record as of September 15, 2017. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that the Board of Directors of the Company declared a quarterly dividend on August 2, 2017 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on October 2, 2017 to common shareholders of record as of September 15, 2017. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that the Board of Directors of the Company declared a quarterly dividend on May 18, 2017 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on June 30, 2017 to common shareholders of record as of June 15, 2017. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL... Read more of this article
XL Group Announce First Quarter 2017 Results
XL Group announced their 2017 first quarter results, with net income attributable to common shareholders of $152.8 million, or $0.57 per share, compared to $21.9 million, or $0.07 per share, in the prior year quarter. Commenting on the Company’s performance, Chief Executive Officer Mike McGavick said: “We are pleased to start off 2017 with solid... Read more of this article
XL Group Ltd 2016 Letter To Shareholders
“We now see exactly the company we’re trying to build creating the difference that it can in the marketplace. We believe we can now drive that result to the bottom line and therefore into rewards for our shareholders,” XL Group Ltd CEO Mike McGavick says in the Company’s 2016 Letter to Shareholders, which is available here. The digital document... Read more of this article
Stephen Catlin To Retire As XL Deputy Chairman
XL Group Ltd announced the retirement of Stephen Catlin, Executive Deputy Chairman, effective December 31, 2017. In connection with his retirement, Mr. Catlin has notified the Company of his intention not to stand for re-election to the Company’s Board of Directors at the upcoming Annual General Meeting scheduled for May 19, 2017. Mr. Catlin will... Read more of this article
XL Announces Ogden Rate Change Impact
XL Group Ltd announced the estimated impact of the recent UK Ministry of Justice’s announcement of a significant decrease of the discount rate used to calculate lump sum awards in UK bodily injury cases, known as the Ogden Rate, from +2.5% to -0.75%, a decrease of 325 basis points and the first rate change since 2001. The new rate will be effective... Read more of this article
XL Group: Porrino To Retire, Robb Appointed
XL Group Ltd announced that Group Controller Stephen Robb will succeed Peter Porrino as Chief Financial Officer, following Mr. Porrino’s retirement, effective May 1, 2017. Mr. Porrino will continue with the Company on a part-time basis, working as an advisor to Chief Executive Officer Mike McGavick. Since joining the Company in 2004, Mr. Robb has... Read more of this article
Catastrophe Losses Impact XL Group Results
XL Group Ltd reported its fourth quarter and full year 2016 results, with Chief Executive Officer Mike McGavick saying that “2016 was undoubtedly a challenging year.” “Our results were impacted by both a disappointing start as well as a number of significant catastrophe losses throughout the year and in the 4th quarter in particular,”... Read more of this article
XL 2016 Q4 Preliminary Loss Estimate: $245M
XL Group Ltd announced its preliminary net loss estimate in the fourth quarter of 2016 of approximately $245 million relating to natural catastrophes. This preliminary estimate is pretax and net of reinsurance and reinstatement premiums and is split approximately $125 million in the Insurance segment and $120 million in the Reinsurance segment. Losses... Read more of this article
