McGavick remains confident as XL reports $474.8m loss
XL chief executive officer Mike McGavick said his firm would not shy away from "frustrating" 2011 results, but asked yesterday for their broader context to be considered.
The reinsurer's full year 2011 results included a net loss of $474.8m and saw the firm's combined ratio rise to 107.5%.
XL's full year results were affected by poor performance in the fourth quarter
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