XL Group has significantly raised its estimate for cost synergies from last year’s merger with Catlin from $300mn a year to $500mn by year-end 2017.
The new target, which excludes integration costs relating to the deal, is the third upwards revision of cost savings by the company since the deal to combine XL and Catlin was announced in January 2015.
When the transaction was announced the companies said they hoped to reach $200mn in annual synergies, a figure that was…Read more at The Insurance Insider