Equity Research on XL Group plc - Property and Casualty Insurers Hit Hard by Disasters
April 25 2011 - 9:24AM
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Global and domestic natural catastrophes have hurt the bottom
lines of several property and casualty insurers. The devastating
earthquakes and tsunamis that hit Japan are estimated to cost the
global insurance industry as much as $60 billion. Last year,
disasters cost the property and casualty insurance industry roughly
$38 billion, up 90% from the year prior. Get instant analysis of
XL Group plc from live, real-time experts
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XL Group plc estimates that damage claims from Japan's recent
natural disasters will cost it $190-$290 million. XL is coming off
a 2010 in which it incurred $294.3 million as a result of natural
disasters. All of the losses will likely cut into profits but
should allow the insurer to raise its rates. XL
Group plc report is accessible for free by registering today
at
http://shinesroomonline.com/reports/April2511XLGroupplc(XL)250411.php.
Domestic disasters also hurt net incomes of several insurers.
Disasters cost one company in the industry over $700 million after
taxes last year, over double from the year before. This company's
report is accessible for free by registering today at
www.shinesroomonline.com
Overall, most casualty and property insurers have seen their net
incomes dented by the increase in global and domestic disasters. It
will likely take a few more quarters of adjusted rates for the
industry to get back on track as a whole.
The Property & Casualty Insurance
stocks research report is available for free by signing up now on
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