Bermuda-based XL Capital Ltd. will add $200 million to its reserves for Sept. 11 terrorism losses and will record an added $120 million second-quarter loss from investments in telecommunications and other companies.
The $200 million reserve boost includes $135 million in reinsurance reserves that were a result of higher-than-expected Sept. 11 business interruption losses along with XL’s exposure to Lloyd’s of London Central Fund claims as a reinsurer, according to the company.
The remaining $65 million of the increase goes toward accident and health business authored by XL’s Lloyd’s operation, which covered a greater-than originally expected amount of World Trade Center victims.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
What Analysts Are Saying About the 2026 P/C Insurance Market 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
