The Company is a provider of insurance and reinsurance coverages, and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.
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XL has a lot of momentum. Unfortunately, that momentum is in a downward trend. The company reported a dramatic decrease in Q1 net income, down from $562.5 million to $244.4 million. The company's investment portfolio lost $1.4 billion and its insurance divisions profit was squeezed as more claims were paid & insurance premiums were decreased due to competition. Unfortunately, the EPS estimate is decreased for 2008, making XL less attractive to investors.