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XL Group Sees Sandy Losses of $350M

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UPDATE: Keefe, Bruyette & Woods Downgrades XL Group
XL Group Introduces New Standalone Terrorism Insurance Policy

XL Group plc (NYSE: XL) today announced its preliminary net loss estimate related to Storm Sandy of $350 million, pretax and net of reinsurance and reinstatement premiums.  Approximately 60% of the Company's estimated loss relates to the Reinsurance segment.

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