Hashtag: #XLCapital
AM Best Affirms Credit Ratings Of XL Bermuda
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of “aa-” of XL Bermuda Ltd [AXA XL] [and its subsidiaries. The outlook of these Credit Ratings is stable. A statement from the ratings agency said, “The ratings reflect AXA XL’s balance sheet strength, which AM Best assesses as very strong, as well... Read more of this article
AXA XL Acquires All Interests In New Ocean
AXA XL’s Reinsurance operation has completed the acquisition of all third party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Limited. New Ocean is now a wholly-owned subsidiary within AXA XL’s Alternative Capital business, under the leadership of Daniel Brookman, AXA XL’s Head of Alternative... Read more of this article
XL To Delist Outstanding Debt Securities
XL Group Ltd announced that, following the completion of its previously announced merger with Camelot Holdings Ltd., a wholly owned subsidiary of AXA S.A. and the delisting of its common shares from the New York Stock Exchange [NYSE], it has notified the NYSE of its intention to voluntarily delist the following series of debt securities issued by XLIT... Read more of this article
Fitch Upgrades XLIT Following Acquisition Close
Fitch Ratings has upgraded the ratings of XLIT Ltd. [XL, a Cayman Islands subsidiary of XL Group Ltd] and its property/casualty [re]insurance subsidiaries following the completion of the acquisition by AXA SA. “This includes a one notch upgrade of XL’s core operating subsidiaries Insurer Financial Strength [IFS] rating to ‘AA-’,... Read more of this article
AXA Has Completed Acquisition Of XL Group
AXA today [Sept 12] announced that it has completed the acquisition of XL Group Ltd. “The completion of the transaction follows the fulfillment of customary closing conditions, including approval by XL Group shareholders and obtention of all necessary regulatory approvals,” the company saud. “XL Group, a premier specialty and large... Read more of this article
BSX Suspends Trading Of XL Due To Acquisition
The Bermuda Stock Exchange [BSX] announced it has, prior to the market opening today [Sept 12], suspended trading in XL Group Ltd.’s common shares pursuant to the company’s acquisition by AXA, S.A. The BSX said they waived the normally required 60-day notice period in consideration of the specific circumstances of the acquisition and to mirror action... Read more of this article
AXA Get Regulatory Approval For XL Acquisition
AXA S.A. announced that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions. Related Stories AXA XL Acquires All Interests In New... Read more of this article
XL Group Announce Second Quarter Results
XL Group Ltd reported its second quarter 2018 results, with net income attributable to common shareholders of $319.0 million, or $1.21 per fully diluted share, for the quarter, compared to $301.6 million, or $1.14 per fully diluted share, in the prior year quarter. Commenting on the Company’s performance, XL’s Chief Executive Officer Mike McGavick... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced today [July 26] that its Board of Directors declared on July 25, 2018 a quarterly dividend of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on October 1, 2018 to common shareholders of record as of September 14, 2018. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL... Read more of this article
XL Catlin To Hold Global Day Of Giving Today
XL Group Ltd announced that thousands of colleagues in XL Catlin offices around the world will participate in its annual Global Day of Giving today [June 8]. The Global Day of Giving is a company-wide employee volunteer day dedicated to supporting the communities in which XL Catlin operates. Since the inception of the Global Day of Giving in 2006,... Read more of this article
XL Group Approve Merger Agreement With AXA
In a filing with the Bermuda Stock Exchange [BSX], XL Group Ltd announced shareholders’ approval of the Merger Agreement with AXA. The filing stated: “XL Group Ltd announced today that its common shareholders have approved an agreement for AXA to acquire 100% of XL Group. “Total consideration for the planned acquisition would amount to approximately... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that its Board of Directors declared on May 10, 2018 a quarterly dividend of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on July 2, 2018 to common shareholders of record as of June 15, 2018. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL To Delist Outstanding... Read more of this article
XL Group Announce First Quarter 2018 Results
XL Group Ltd reported its first quarter 2018 results, with net income attributable to common shareholders of $152.6 million, or $0.58 per fully diluted share, compared to $152.8 million, or $0.57 per fully diluted share, in the prior year quarter. Commenting on the Company’s performance, XL’s Chief Executive Officer Mike McGavick said: “We... Read more of this article
AXA To Acquire XL Group For $15.3 Billion
[Updated] AXA announced today that it has entered into an agreement to acquire 100% of XL Group Ltd, with the French company confirming that the total consideration for the acquisition amounts to $15.3 billion. Shareholders in XL will receive $57.60 a share, which represents a 33% premium to the company’s closing price on March 2, AXA said. AXA... Read more of this article
XL Group Declare Quarterly Dividend Of $0.22
XL Group Ltd announced that its Board of Directors declared a quarterly dividend on February 15, 2018 of $0.22 per common share payable on the Company’s common shares. The dividend will be payable on April 2, 2018 to common shareholders of record as of March 15, 2018. Related Stories AM Best Affirms Credit Ratings Of XL Bermuda XL To Delist Outstanding... Read more of this article
XL Results Impacted By Natural Catastrophes
XL Group Ltd reported its fourth quarter and full year 2017 results, with net income attributable to common shareholders of $28.8 million, or $0.11 per fully diluted share, for the quarter, and net loss attributable to common shareholders of $560.4 million, or $2.16 per fully diluted share, for the full year. The company noted a “non-recurring... Read more of this article
