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XL says catastrophes cost $240 million, led by Canada fires

The sum includes $140 million in the reinsurance segment and $100 million from primary coverage.

By Agnel Philip | Updated on July 13, 2016
Destroyed property in Fort McMurray, Alberta, is viewed Monday, May 9, 2016. (AP Photo/Rachel La Corte)

(Bloomberg) – XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for about half the total.

Flooding in Europe and earthquakes in Japan and Ecuador also contributed to the losses, the Dublin-based company said in a statement Wednesday. The sum includes $140 million in the reinsurance segment and $100 million from primary coverage.

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