XL Group became the latest carrier to report significantly lower second quarter operating earnings driven by preannounced catastrophe losses.
The XL Catlin combine said operating profits were $106.4mn, representing a 57 percent decline on the $245.8mn generated in Q2 2015.
But at 0.37 a share, the performance was well ahead of Wall Street analysts’ consensus of $0.16 a share.
Janney analyst Ryan Byrnes said he expected XL shares to have a “positive bias” in trading tomorrow following the outperformance.
“While…Read more @ Insurance Insider