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Last $37.76 USD
Change Today +0.32 / 0.85%
Volume 2.7M
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

xl group plc (XL) Key Developments

XL Group plc Announces Board Changes

XL Group plc announced that Director Eugene M. McQuade has been appointed as Chairman of the Board. Mr. McQuade has been a Director of the company since 2004 and recently retired as Vice Chairman of Citigroup. Mr. McQuade succeeds Robert R. Glauber, who had served as Chairman since 2009. Mr. Glauber will remain a Director of the Board and will Chair the Risk and Finance Committee.

XL Group plc Declares Quarterly Dividend, Payable on June 30, 2015

XL Group plc announced that the board of directors of the company declared a quarterly dividend on May 7, 2015 of $0.16 per ordinary share payable on the company's ordinary shares. The dividend will be payable on June 30, 2015 to ordinary shareholders of record as of June 15, 2015.

XL Group plc Presents at Sanford C. Bernstein & Co.'s Disruptive Trends in Financial Services Conference, May-12-2015 09:45 AM

XL Group plc Presents at Sanford C. Bernstein & Co.'s Disruptive Trends in Financial Services Conference, May-12-2015 09:45 AM. Venue: Grand Hyatt, Grand Central Station, New York, New York, United States. Speakers: Tom Hutton, Managing Partner and Director of XL Innovate.

XL Group plc Appoints Stephen Catlin as Executive Deputy Chairman and to its Board

XL Group plc announced that it has completed the acquisition of Catlin Group Limited following the parties' previously announced entry into an agreement on January 9, 2015 to acquire all of the capital stock of Catlin to form a combined business. As previously announced, Mike McGavick will continue as CEO, and Stephen Catlin, founder and CEO of Catlin Group Limited, has joined XL as Executive Deputy Chairman, also serving on the Company's Board of Directors.

XL Group plc Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

XL Group plc reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net investment income - excluding Life Funds Withheld Assets of $158,094,000 compared to $233,139,000 for the same period a year ago. Total adjusted revenues were $1,553,274,000 compared to $1,787,824,000 last year. Income before income tax,  income from operating affiliates, and Life Retrocession Arrangements was $203,494,000 compared to $279,512,000 last year. Net income was $73,671,000 compared to $291,476,000 last year. Net income attributable to ordinary shareholders was $36,281,000 or $0.14 per diluted share compared to $255,717,000 or $0.91 per diluted share last year. Operating net income was $194,376,000 or $0.75 per diluted share compared to $238,649,000 or $0.85 per diluted share last year. Annualized return on ordinary shareholders' equity based on operating net income was 7.7% compared to 9.4% last year. Annualized operating return on average ordinary shareholders' equity excluding average unrealized gains and losses on investments was 9.1% compared to 10.3% last year. Annualized operating net income was $777,504,000 compared to $954,596,000 last year. Fully diluted book value per ordinary share was $39.30 and fully diluted tangible book value per ordinary share of $37.60 as on March 31, 2015 compared to fully diluted book value per ordinary share was $38.51 and fully diluted tangible book value per ordinary share of $36.79 as on December 31, 2014. Net investment income for the quarter was $208.5 million, compared to $233.2 million in the prior year quarter. The overall decline is primarily due to the normal turnover of the portfolio combined with foreign exchange impacts.  Included in investment income in the current quarter is $50.4 million of income related to designated investments that support the Life Retrocession Arrangements written on a funds withheld basis compared to $53.9 million in the fourth quarter of 2014.

 

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XL

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Valuation XL Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.5x
Price/Book 0.9x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.6x
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