XML 119 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Net premiums earned $ 6,090,441 $ 5,690,130 $ 5,414,061
Net investment income 1,012,348 1,137,769 1,198,038
Realized investment gains (losses):      
Net realized gains (losses) on investments sold 94,810 (28,187) (65,670)
Other-than-temporary impairments on investments (54,306) (174,102) (170,643)
Other-than-temporary impairments on investments transferred to (from) other comprehensive income (26,406) 13,930 (34,490)
Total net realized gains (losses) on investments 14,098 (188,359) (270,803)
Net realized and unrealized gains (losses) on derivative instruments 5,221 (10,738) (33,843)
Income (loss) from investment fund affiliates 58,504 26,253 51,102
Fee income and other 49,868 41,748 40,027
Total revenues 7,230,480 6,696,803 6,398,582
Expenses:      
Net losses and loss expenses incurred 3,765,482 4,078,391 3,211,800
Claims and policy benefits 486,198 535,074 513,833
Acquisition costs 913,492 826,411 788,258
Operating expenses 1,173,951 1,083,917 972,963
Exchange gains (losses) 10,546 (40,640) (10,161)
Interest expense 172,205 205,592 213,643
Impairment of goodwill 0 429,020 0
Loss on termination of guarantee 0 0 23,500
Total expenses 6,521,874 7,117,765 5,713,836
Income (loss) before income tax and income (loss) from operating affiliates 708,606 (420,962) 684,746
Income (loss) from operating affiliates 55,810 76,786 121,372
Provision (benefit) for income tax 34,028 59,707 162,737
Net income (loss) 730,388 (403,883) 643,381
Non-controlling interests (79,254) (70,877) (39,831)
Net income (loss) attributable to XL Group plc and ordinary shareholders 651,134 (474,760) 603,550
Dividends on Series C and Series E preference ordinary shares 0 0 (34,694)
Gain on redemption of Redeemable Series C preference ordinary shares 0 0 16,616
Net income (loss) attributable to ordinary shareholders $ 651,134 $ (474,760) $ 585,472
Weighted average ordinary shares and ordinary share equivalents outstanding - basic (in shares) 307,372 312,896 336,283
Weighted average ordinary shares and ordinary share equivalents outstanding - diluted (in shares) 310,282 312,896 337,709
Earnings (loss) per ordinary share and ordinary share equivalent - basic (in dollars per share) $ 2.12 $ (1.52) $ 1.74
Earnings (loss) per ordinary share and ordinary share equivalent - diluted (in dollars per share) $ 2.10 $ (1.52) $ 1.73