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XL full-year profits almost triple

XL Group plc reported today that annual net earnings almost tripled in 2010.The Ireland-based company, which has substantial operations in Bermuda, made net income of $585.5 million last year, compared to $206.6 million in 2009.For the fourth quarter, XL swung to a $188.1 million profit from a loss of $40.3 million in the same period of 2009.The company reported earnings per share of 74 cents, beating estimates of analysts polled by Bloomberg, who forecast 66 cents.XL added that fourth-quarter natural catastrophe losses include $23.3 million related to flooding in Australia, with additional losses to come in the first quarter to range between an additional $75 million and $95 million.