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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.