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Fly News Breaks for May 18, 2016
XL
May 18, 2016 | 07:15 EDT
UBS lowered its price target on XL Group to $38 from $42 as continued pricing competition in reinsurance and commercial lines has led to a modestly worse underlying margin. The firm now believes double digit operating ROE many not be achievable for several years. Although UBS maintained its Buy rating on XL Group shares, they remain cautious near-term.
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