XL beats despite cat and reserve hits

XL Group posted first quarter operating net income of $0.50 per
share, ahead of Wall Street's consensus estimates of $0.47 per
share and the $0.35 per share posted in the same period of 2016.
The company posted a Q1 annualised operating return on equity of
5.0 percent, up from the 3.5 percent a year ago.
The carrier's combined ratio for the P&C unit rose by
1.8 percentage points to 94.3 percent for the quarter, driven
higher by a deteriorating loss...