XL Group Ltd Announces Second Quarter 2018 Results

Hamilton, Bermuda – August 1, 2018 –In a filing with the Bermuda Stock Exchange (“BSX”), XL Group Ltd (Ticker: XL.BH) announced second quarter 2018 results. The full filing stated:

Improved Rate Conditions Across Most Lines; Continued Benefit from Market Leadership Position

•       Net income attributable to common shareholders of $319.0 million, or $1.21 per fully diluted share, for the quarter, compared to $301.6 million, or $1.14 per fully diluted share, in the prior year quarter

•       Operating net income¹ of $220.3 million, or $0.84 per fully diluted share, for the quarter, compared to $255.1 million, or $0.96 per fully diluted share, in the prior year quarter

•       P&C gross premiums written (“GPW”) increased 10.6% compared to the prior year quarter; GPW increased by 7.8% excluding the impact of foreign exchange. Insurance rate increase year to date through June was 3.8%, Reinsurance rate increase year to date through July was 3.7%

•       Natural catastrophe pre-tax losses net of reinsurance, reinstatement and premium adjustments for the quarter of $76.8 million (2.9 points to the loss ratio), compared to $92.1 million (3.7 points to the loss ratio), in the prior year quarter

•       Net favorable prior year development ("PYD") was $8.9 million (0.4 points to the loss ratio) in the current quarter, compared to favorable PYD of $86.7 million (3.5 points to the loss ratio) in the prior year quarter

•       P&C combined ratio of 95.8% for the quarter, compared to 92.3% in the prior year quarter

•       Investment returns positively impacted by ongoing portfolio rotations capitalizing on rising interest rates and a gain on the sale of one operating affiliate. Potential for future enhancement in investment returns as we continue to actively manage the portfolio

Hamilton, Bermuda– July 31, 2018 – XL Group Ltd (“XL” or the “Company”) (NYSE: XL) today reported its secondquarter 2018 results.

Commenting on the Company’s performance, XL’s Chief Executive Officer Mike McGavick said:

"In the second quarter we have continued our progress toward a strong and diversified book, particularly as rate conditions improved across most lines. We grew top line by 10.6%, maintained underwriting discipline and continued our shift of our book toward lower volatility business. Partially offsetting these positive trends was non-catastrophe large loss activity from the current quarter as well as prior year development from short tail lines in Insurance. Our investment results continue to improve as active portfolio rotation allows us to take advantage of rising interest rates. Overall, we are pleased with the results and look forward to continuing to realize the full potential of what we have built when we become part of AXA Group."

The full press release can be found by using the following link:

http://www.bsx.com/CompanyDocuments/1099938543/XL%20Group%20Second%20Quarter%20_%20YTD%202018%20Press%20Release%20_%20July%2031%202018.pdf