XL to book $75mn impact from Ogden rate cut

XL expects changes in the UK discount rate for bodily injury
compensation to result in a negative pre-tax impact of $75mn.
Earlier this week, the UK government cut the so-called Ogden
rate to minus 0.75 percent from 2.50 percent, effective from 30
March.
The $75mn impact relates primarily to XL's UK motor business
in the reinsurance segment, although UK motor bodily injury, UK
employers' liability and UK public liability were also affected
by the change.
The impact of the rate...