DUBLIN, Ireland , January 9, 2015 /PRNewswire/ --
- Expected to Create a Leader in Global Specialty Insurance and Reinsurance Markets - Expected to Create Double Digit EPS and Meaningful ROE Accretion XL Group plc (NYSE: XL) today announced that it has entered into an agreement under which XL will offer to acquire all of the capital stock of Catlin Group Limited (LSE: CGL) to form a combined business which is expected to have a leading presence in the global specialty insurance and reinsurance markets.
Operating net income1 of $187.1 million, or $0.70 per share for the quarter on a fully diluted basis P&C combined ratio of 90.1% for the quarter, compared to 95.0% in the prior year quarter
Natural catastrophe pre-tax losses net of reinsurance and reinstatement premiums in the quarter of $29.8 million, compared to $85.0 million in the prior year quarter Annualized operating return on ordinary shareholders' equity2 excluding and including unrealized gains and losses on investments were 8.6% and 7.5%, respectively, for the quarter Net income attributable to ordinary shareholders and net income attributable to ordinary shareholders excluding the impact of the Life Retrocession Arrangements3 of $72.4 million and $222.6 million, respectively, for the quarter Fully diluted tangible book value per ordinary share4 of $35.40 at September 30, 2014, an increase of $1.54, or 4.5%, from December 31, 2013 Share buybacks totaled 8.2 million ordinary shares for $275.0
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