XL Catlin misses as cats bite into operating results

XL Group missed Wall Street expectations with a $4.00 per share
operating loss for the third quarter as $1.48bn in pre-announced
net catastrophe losses took their toll.
Analysts had looked for a $3.91 per share operating loss, the
average of 16 estimates compiled by Reuters.
Cat losses net of reinsurance recoveries, reinstatement and
premium adjustments, plus redeemable non-controlling interest added
58.8 points to the (re)insurer's loss ratio, on a pre-tax
basis, the company said late today.
Th