XL Capital Ltd. (XL) announced that its third-quarter net loss available to ordinary shareholders was $11.4 million, or $0.03 per ordinary share, compared to a net loss available to ordinary shareholders of $1.649 billion or $6.04 per ordinary share for the third quarter of 2008.
The company said that the significant improvement in the net loss available to ordinary shareholders from the prior year quarter is primarily due to a charge of $1.4 billion in the prior year quarter related to the transaction closed on August 5, 2008 with Syncora Holdings Ltd. (formerly Security Capital Assurance Ltd) and certain of its subsidiaries. Also contributing to the improvement was an increase in operating income of $198.6 million primarily due to an increase of $183.7 million from the underwriting contribution of XL's P&C operations and an increase of $97.2 million in the net income from investment affiliates. These were partially offset by a decrease in investment income of $109.1 million compared to the third quarter of 2008.
Operating income was $306.4 million, or $0.89 per ordinary share, compared to $107.8 million, or $0.39 per ordinary share in the third quarter of 2008. Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share. Analysts' estimates typically exclude special items.
Total revenues for the quarter were $1.49 billion, compared to $1.74 billion in the prior year quarter. Two analysts had consensus revenue estimate of $1.66 billion for the quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.