What’s New: In Brief (February 11, 2009)

XL Capital Ltd reported a net loss of $2.63 billion for 2008, marking a drop from 2007’s $205.4 million net income.
The company’s insurance segment in 2008 Q4 accounted for gross premium written of $1.1 billion for property and casualty operations (down from $1.3 billion in 2007 Q4) and the reinsurance segment accounted for $104.5 million (down from $138 million in 2007 Q4).
The company’s loss ratio for 2008 Q4 was 58% and its combined ratio was 89.4%. This compares to 62% and 93.3%, respectively, during the same period in 2007.
The net investment income from property and casualty operations (excluding investment income from structured products) was $275.6 million for 2008 Q4, marking a decline from $326.8 million in 2007 Q4.

Marsh & McLennan Companies, Inc. (MMC) announced a net income of US$80 million for 2008 Q4, compared to US$85-million profit in 2007 Q4.
Marsh’s revenue in 2008 Q4 decreased by 5% from 2007 Q4, down to US$1.1 billion, but increased 3% on an underlying basis.
Reinsurance premium rates declined globally across most lines in 2008 Q4, MMC said.
Guy Carpenter’s Q4 revenue declined 6%, down to US$146 million, or 2% on an underlying basis.
“Restructuring actions and continuing cost discipline led to a significant improvement in Guy Carpenter’s profitability in the fourth quarter, compared to the same period in 2007,” according to the MMC release.
Risk and Insurance Services revenue in 2008 Q4 totalled US$1.3 billion, down 6% from 2007 Q4, but increased 1% on an underlying basis.