XL Group says third-quarter net income fell 21 percent on pretax catastrophe losses of $85 million.
The Dublin-based insurer and reinsurer reports net income for the quarter of $135.6 million compared to $171.9 million during the same quarter a year ago.
The company says $69.5 million of the total catastrophe losses is attributable to the reinsurance segment, with about $59 million—pretax and net of reinsurance and reinstatement premiums—related to July hailstorms in Germany and France.
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