XL profits fall in 2016
CEO confirms it was an “undoubtedly” challenging year.
XL Group achieved a profit of $441m [£347.5m] in 2016, down from the $1.21bn of the previous 12 months.
However, for the final quarter of the year profits rose to $304.7m (Q4 2015: $228.6m).
Gross written premium for property and casualty (P&C) operations came in at $3.02bn and $13.63bn for the quarter and year respectively. Both figures were ahead of 2015.
The provider achieved an underwriting profit on its P&C business of $570.7m for the year which was down on the $653.2m in 2015.
Consistent
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