J.P Morgan Updates Its Estimates On XL Group Following Japan Earthquake

J.P Morgan is updating estimates for XL Group XL following the Honshu/Tohoku earthquake. Specifically, it is reducing 2011-2013 operating EPS estimate by $0.69, $0.05, and $0.05 to $1.03, $1.85, and $1.65, respectively, to reflect 1Q 2011 Japan quake losses and lower share repurchases in 2011. In addition, J.P Morgan's estimates assume no improvement in property reinsurance pricing. J.P Morgan has a Neutral rating and $21 PT on XL XL closed Monday at $22.22