McGavick: Reducing catastrophe volatility is 'right thing to do'

XL Group is reducing volatility in the cat space through its
ceded programmes as it reshapes its "earnings engine"
following last year's catastrophe losses, according to CEO Mike
McGavick.
Speaking to analysts on a conference call following the
carrier's fourth quarter results, McGavick said it was clear
that taking this action was "the right thing to do" and
that while XL had made "good strides" at 1 January and
during Q4, more was to come.
XL hadearlier on Thursday...