Bermuda’s XL Capital Ltd. announced that on September 21, 2007, the Company’s Board of Directors “approved a new share repurchase program, authorizing the Company to repurchase up to $500 million of its Class A ordinary shares.”
XL said it expects to make the purchases “from time to time in the open market or in privately negotiated transactions, and that such repurchases are expected to be funded from cash on hand.”
It also indicated that the “timing, form and amount of the share repurchases under the program will depend on a variety of factors, including market conditions, legal requirements and other factors. The repurchase program may be modified, extended or terminated by the Board at any time.”
Source: XL Capital – www.xlcapital.com.
Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’
Connecticut Court Rules That Lawyers Can’t Be Sued for Fraud
Wage and Hour Claims Among Top Threats to U.S. Employers
Cyber Attacks On Banks More Serious Than Public Realizes
Golf and Country Clubs Weather the Storm
Midwest AGs Go After Storm-Chasing Roofing Companies
Medical Malpractice Payouts Not Driving Up Health Costs: Study
Florida Lawmakers Approve Medical Malpractice Reform
Sign up to receive insurance news alerts!
