XL Group 2nd-qtr profit tops estimates
* Second-quarter oper EPS $0.71 vs est $0.56
* Second-quarter net premiums earned up 7 pct
* Company buys back 6.1 mln shares in the quarter
Aug 7 (Reuters) - Reinsurer XL Group Plc posted a second-quarter profit above analysts' expectations, helped by higher premium revenue from its property and casualty segment.
Net income was $221.2 million, or 71 cents per share, compared with $225.7 million, or 69 cents per share, a year earlier.
Operating income was 71 cents per share.
Analysts on average expected the company to earn 56 cents per share, according to Thomson Reuters I/B/E/S.
Net premiums earned from property and casualty business rose 7 percent to $1.40 billion.
During the quarter, XL Group bought back 6.1 million shares for a total of $125 million, it said in a statement.
The company's shares closed at $21.37 on Tuesday on the New York Stock Exchange.
- Ferguson march muted, police officer disciplined over video |
- Gaza gunmen execute 'collaborators'; mortar kills Israeli boy |
- U.S. says Russia must pull convoy from Ukraine or face more sanctions |
- U.S. hostage rescuers dropped from night sky: Syria activist
- U.S. protests intercept of Navy jet by Chinese warplane