XL Capital has reported a huge increase in second quarter net income to $377.1m, up from $135.9m in the prior-year period.
Reinsurance underwriting profit increased to $113.7m, from a loss of $104.5m in the second quarter of last year.
The company's combined ratio was 90%. Within its reinsurance operation it fell over 20 points from the same period last year, from 112.2% to 85.9%.
President and CEO Brian O'Hara said: "I am pleased to report the momentum generated with our first quarter's record results continued in the second quarter.
"Our risk management initiatives are well under way, our underwriting results are solid, and our investment performance is strong."
O'Hara added: "We remain committed to generating attractive returns and XL is well positioned to take advantage of the opportunities presented by current market conditions."
