XL Capital said it would be hit by a $139m after-tax charge against its fourth quarter earnings as a result of the $75m in pre-tax losses it incurred from the Asian tsunamis and the 2004 hurricane season.
XL estimated pre-tax hurricane losses of $520m, up from $446m, both net of reinstatement premiums.
It noted that around $50m of its tsunami-related losses were absorbed by its insurance business, and the balance by its reinsurance business.
The group said that the charges “will not materially affect” its overall financial condition.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
