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XL "will not shy away from our 2011 results”
09 February 2012
XL Group posts net loss of $515.5m for the fourth quarter and $474.8m for the year.
XL Group has posted a net loss of $515.5m for the fourth quarter, compared with net income of $188.1m in the same period in 2010.
For the full year, the firm made a net loss of $474.8m, compared with $585.5m in 2010. The firm said this was largely driven by a non-cash goodwill impairment charge of $429m in the fourth quarter, in addition to natural catastrophe losses for the quarter and full year.
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