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XL Group plc Message Board

  • meremaxx meremaxx Apr 2, 1999 7:20 PM Flag

    Well, hello, CNA

    Hmmm, I wonder...if XL would like to try on CNA
    for a grand entrance into the world of one-upmanship?
    Yeah, they have NAC RE and subsidiaries, but they
    screwed up on Intercargo.

    Methinks that such an
    acquisition would give certain people a woody in that small
    isle. At least it woud be accretitive to this years
    earnings and a great add-on to XLA.

    Let's see,
    Berkshire is interested, too..isn't that same firm that
    wrote ACL a blank check for pre-1986 losses in both
    Westchester and CIGNA? Nah, they got GEICO don't

    Ahh, I love this game. Did you really think BMO would
    let BD sit back and hog all the lime light? Kirk
    Douglas, Charleston Heston, please get your chariots

    PS. Who do you think will get Fiona?

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    • Can anyone advance any reasons why XL has
      performed so dismally? I've watched it decline from 80 to
      below 50. It enjoys? stellar brokerage recommendations
      but has simply been an investment dog since it
      acquired Mid-Ocean. It appears I can only hope XL will use
      some of their cash to repurchase shares and prop up
      the price. I'm baffled. Any insight for this
      disappointed shareholder. Thanks.

    • Best of luck!


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      them include your daytime phone

    • Most P&C and Specialty insurors are down. AIG is
      a good bet as well as AFLAC and some life firms. XL
      and its Bermudian neighbors are long term plays but
      nevertheless very solid.

      I don't see XL going under
      54-55 so you are darn near the bottom.

      problem is that the industry in general is
      over-capitalized and the returns are marginal. There are other
      stocks that, at this time, are providing higher

      Good luck.

    • I hate it when people ask insipid questions, but
      now its my turn.

      I think the large cap US
      equities mkt. is overvalued, hence i've been searching for
      equities with tangible value, thus far I've picked up
      BASFY, Bayer, among others. i do have some popular large
      cap tech stocks but do not wish to add to those
      positions, I'm attempting to hedge US volatility by
      selecting strong foreign companies.

      This company
      looks intriguing, but the Bermuda affiliation worries
      me. should it?
      I was looking at CB and CNA among
      others and backed off, so here are the dumb questions.
      Is XL a good buy? Why is it down so much? is that a
      result of the acquisition? Will the acquistion be
      accretive in 2000? Or is it a millstone? Is it possible
      that Buffet may buy this? (he likes insurance, and
      strong cash flow) Also, since GBLX/US West/Frontier is
      in the papers everyday, it may perhaps lend some PR
      to Bermuda based companies..

      any comments are
      greatly appreciated.

    • UKissYourMotherWithThatMouth UKissYourMotherWithThatMouth Jun 23, 1999 11:29 AM Flag

      IMO one reason for the depressed share price
      (besides the sector) could be that there are now more
      shares in the float. Acording to the 6/23/99 PR, in
      part..."The weighted average number of ordinary shares and
      share equivalents outstanding on a fully diluted basis
      in the second quarter was 112.4 million in 1999
      versus 86.3 million in 1998. In fiscal 1999 the Company
      has repurchased 2.1 million of its shares for $126.8
      million including 645,000 shares purchased subsequent to
      May 31, 1999. The Company's share repurchase program
      has now been rescinded."

      That's about a 26
      million increase in shares. If someone has any opinion on
      this be my guest.

    • Some pollution coverage (ie. contractors) on an occurrance basis, pretty much throughout the industry - ECS, AIG, Kemper, Zurich.

    • sheesh. eom.

    • I agree, in part. Other serious consideratioins
      have to be an underwriting profit, no pre-1986
      liabilities (in other words, a clean balance sheet) and good
      underwriting. There's not too much out ther since most have
      released reserves to stave off the risk based capital
      crunch. Once Greenberg and crew raise rates, you'll see
      some more push their exit buttons.

      By the way,
      I think thier new collaborative effort with
      Microsoft's former RM, IBM and others to create "INquisLogic,
      a risk analysis tool, is cutting edge. I heard that
      their booth at RIMS was crowded with people who wanted
      to play for hours with this new RM

      Though the stock has fallen down, so has most of the
      sector, especially Bermuda firms. That's OK. They have
      plenty of cash and some good bargains will appear.
      Personaly, I'll buy more when it dips below 55 again.

    • BOH was quite vocal in suggesting that he prefers the high severity, low frequency businesses to those like CIGNA. If they were to go after CNA, they would continue to anger their shareholders.

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