Losses contributing to this estimate include approximately
Given that the facts are still developing, as well as the complexities of the nature of such events, there is considerable uncertainty associated with the loss estimates of these events and such estimates are accordingly subject to revision as additional information becomes available. Actual losses may differ materially from these preliminary estimates.
Today the Company also announced that it intends to release its Fourth Quarter and Full Year 2016 results after the close of regular stock market trading hours on
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 natural catastrophe net loss estimates for the second quarter of 2016. Statements that include the words "expect," "estimate," "intend," "plan," "believe," "project," "anticipate," "may," "could," or "would" and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the PSLRA or otherwise.
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 natural catastrophe loss estimates. We believe that these factors include, but are not limited to, the following:
- changes in the number of insureds and ceding companies impacted or the ultimate number and value of individual claims relating to natural catastrophe events due to the preliminary nature of reports and estimates of loss and damage to date;
- the amount and timing of losses actually incurred and reported by our insureds or ceding companies;
- the timing and full recoverability of ceded reinsurance or other amounts due to us, or changes to our projections relating to such recoverables;
- coverage and regulatory issues; 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, 2015and 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/xl-group-ltd-announces-its-fourth-quarter-2016-preliminary-loss-estimate-for-natural-catastrophes-300388087.html
David Radulski, Investor Relations, (203) 964-3470; Carol Parker Trott, Media Relations, (441) 294-7290