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XL profits climb 17%

XL Group’s second-quarter profit rose 17 percent year on year to $225.7 million, the business insurer announced this evening.

The company’s net income for the April through June period was up from the $191.8 million posted last year, despite catastrophe losses of $68.3 million.

The Dublin-based company with substantial operations in Bermuda surpassed analysts’ expectations with operating earnings per share of 75 cents, compared to the anticipated 47 cents.

Book value per share climbed 6.3 percent during the quarter to $30.87.

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Published August 02, 2011 at 7:00 pm (Updated August 02, 2011 at 7:14 pm)

XL profits climb 17%

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