XL Group plc said its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 is $60 million, pretax and net of reinsurance and reinstatement premiums.

According to a statement from the company, the majority of these losses relate to the reinsurance segment.

XL said its estimate is based on its review of individual treaties and policies expected to be impacted, along with available client data.

Source: XL Group