Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 20th of March 2019
August 9, 2012

XL reports solid Q2 results

by Richard Kilner

Story link: XL reports solid Q2 results

XL Group plc has reported its financial results for the second quarter of the year, including net profits of $221.2m, equating to $0.71 per share.

Year-on-year, the firm’s net income has remained essentially unchanged, with only a marginal difference from the net income of $226m ($0.69 per share) the firm achieved in Q2 2011.

Compared to the preceding quarter (Q1 2012) the quarterly profits are significantly up, rising from $176.6m ($0.56 per share).

Biannual net profits came to $397.8m ($1.26 per share), a vast improvement on the net loss of $1.6m (a loss of $0.01 per share) that the firm suffered during the corresponding period last year.

Chief Executive Officer Mike McGavick said that the second quarter was a solid one for the firm, adding that XL was resolved to continue making progress.

 

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