XL Group Announces Preliminary Loss Estimates For Tianjin Port Explosion

(RTTNews) - XL Group plc (XL) announced preliminary loss estimates for Tianjin port explosion and natural peril catastrophes. Preliminary estimated losses related to the mid-August 2015 Tianjin, China port explosion are approximately $100 million, of which approximately 30% of this is attributable to the Insurance segment and 70% to the Reinsurance segment; and Preliminary estimated losses related to natural peril catastrophes for the third quarter 2015 of approximately $30 million, primarily attributable to the Reinsurance segment.

Natural peril catastrophes include the Chilean earthquake and development on prior quarter events the majority of which pertain to the 2015 US Winter Storms.

XL intends to release its third quarter 2015 results after the close of regular stock market trading hours on Monday, October 26, 2015.