XL Capital Expects Net Hurricane Losses at $450M

XL Capital Ltd (NYSE: XL) announced yesterday that, based on revised loss reports and estimates, it expects net claims arising from storm activity during the third quarter, 2004 of approximately $450 million. This amount includes revised estimates for expected net claims related to Hurricanes Charley, Frances and Ivan of approximately $120 million, $80 million and $160 million, respectively and includes estimated net claims of approximately $90 million related to Hurricane Jeanne. Net claims related to recent storms in the Pacific were not significant. Of the $450 million in...