XL to take $1.5bn credit crunch charge in fourth quarter
Bermudian (re)insurer XL Capital has today announced that it expects to record net income for the full-year 2007 of $200m to $400m and a net loss in the fourth quarter of $1.0bn to $1.2bn.
XL said it expects to record the following items relating to credit market conditions in its financial statements for the quarter ended 31 December 2007:
• A charge of at least $550m with respect to
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