XL estimates US weather losses of $75m
XL Group has estimated that severe weather occurrences, including tornado activity, in the US in April and May caused losses of $50m to $75m, with the majority attributable to XL’s reinsurance segment.
The preliminary loss estimates related to the storms, pretax and net of reinsurance and reinstatement premiums. The storms affected the Midwest and Southeast US between 22 – 28 April and 20 – 23 May.
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