XL estimates that the pre-tax impact of the rate change on the Company's carried reserves for relevant lines of business is approximately
XL has not been a large writer of
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 ("PSLRA") provides a "safe harbor" for forward-looking statements. This press release contains forward-looking statements that reflect our preliminary expectations regarding the impact of the change in the discount rate used to estimate lump sum awards for bodily injury cases in the
All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in our preliminary expectations regarding the impact on our reserves and future claims experience associated with the change in the personal injury rate used to estimate lump sum awards for bodily injury cases in the
- changes in the number and amount of lump sum awards and periodical payment orders relating to bodily injury cases in the
- judicial decisions and rulings, new theories of liability or emerging claims coverage issues, legal tactics and settlement terms;
- changes in applicable law, including further changes in the applicable rate used to determine lump sum awards in bodily injury cases in the
- the impact of changes in the global financial markets, such as changes in inflation, interest rates and foreign currency exchange rates; and
- the other factors set forth in Item 1A, "Risk Factors," included in our Annual Report on Form 10-K for the year ended
December 31, 2016and our other documents on file with the SEC.
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein or elsewhere. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contact: Abbe F. Goldstein, CFA
Carol Parker Trott
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