XL Group posts $122.5 million operating income
Posted On: Oct. 31, 2016 5:24 AM CSTBermuda-based reinsurer XL Group Ltd. posted a $122.5 million operating income in the third quarter, The Royal Gazette reported. Net investment income totaled $210 million, compared with $225 million in the prior-year quarter. "We generated property/casualty underwriting profit of $167 million and our property/casualty accident-year, ex-catastrophe combined ratio of 91.3% was a full 3.8 points better than the same quarter a year ago," said Mike McGavick, chief executive of XL Group.