With this month's stock market meltdown spooking already nervous investors, a handful of major insurance companies last week came out with early third-quarter earnings estimates and comments about their performance.

XL Capital Ltd. said it expects a net loss to ordinary shareholders of between $1.65 billion and $1.67 billion, compared to net income of $328 million for the same period last year.

Of XL's announced third-quarter losses, $1.4 billion involved a charge related to an Aug. 5 transaction with bond insurer and former subsidiary Syncora Holdings Ltd. XL Capital CEO Michael S. McGavick said the company has now eliminated the vast majority of its exposures to Syncora.

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