XL Says Sandy Cost $350 Million, Fueled by Reinsurance Losses

XL Group Plc (XL), the insurer led by Chief Executive Officer Mike McGavick, said superstorm Sandy cost the company about $350 million before tax.

About 60 percent of the sum relates to the reinsurance segment, the Dublin-based company said today in a statement distributed by PR Newswire.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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