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Daily Insurance Industry News
Thursday 21st of June 2018
November 6, 2012

XL reports strong profits in Q3

by Richard Kilner

Story link: XL reports strong profits in Q3

XL Group plc has reported its financial results for the third quarter of 2012, during which it made net income of $171.9m.

This is approximately fourfold the $42.4m that the firm made during the corresponding period last year, but is down a quarter on the $221.2m it made in Q2 2012.

Net income per share was $0.56, four times the $0.14 of Q3 2011 but down from the $0.71 per share of Q2 2012.

In the first nine months of the year XL made a net income of $569.7m, equating to net income per share of $1.82.

This is more than ten times the $40.7m ($0.13 per diluted share) that the firm made during the corresponding period in 2011.

Chief Executive Officer Mike McGavick described the firm’s quarterly results as another step in the right direction and said that the firm was resolved to maintain its progress.

 

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