XL Group CEO Mike McGavick insisted the carrier can deliver a double-digit return on equity (RoE) during a conference call yesterday (27 April), as he came under fire from analysts over the lack of clarity around merger synergies.
The firm reported a 46 percent decline in operating profits to $103.4mn for the first quarter. At $0.35 a share, operating earnings were significantly below Wall Street analysts’ consensus forecasts of $0.50 a share.
However, the prior-year numbers did not include the…Read more at The Insurance Insider