XL Group Turns To Profit In Q2

(RTTNews) - XL Group plc (XL) Monday reported second-quarter net loss attributable to ordinary shareholders of $279.3 million or $1.03 per share, compared to net income $272.7 million or $0.93 per share in the same period last year.

Operating net income for the latest second quarter rose to $279.6 million or $1.02 per share from $221.6 million or $0.75 per share in the year-ago period. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues dropped to $1.83 billion from $1.89 billion last year. Net premiums earned decreased to $1.50 billion from $1.56 billion last year. Net-investment income totaled $213.61 million, down from $232.55 million last year.

Analysts expected revenues of $1.46 billion.