XL boss hails Q2/H1 2011 performance as among the best of its peers
XL has announced a fall in net income for the first six months of 2011 to $80.1m (H1 2010: $392.3m) on gross written premiums of $3.8bn (H1 2010: $3.43bn).
The group made an underwriting loss of $261m (H1 2010: $86m profit) and recorded a combined ratio of 110.% (H1 2010: 96.4%) driven by a hike on the loss ratio of 66.1% (H1: 78.8%).
It added that the
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