Bermuda-based giant reportedly hires Goldman to help sell itself
XL Capital Ltd. lost a third of its market value Wednesday, leaving shares at their lowest level in at least a decade after a report the Bermuda-based insurance giant is trying to sell itself.
XL Capital Ltd. lost a third of its market value Wednesday, leaving shares at their lowest level in at least a decade after a report the Bermuda-based insurance giant is trying to sell itself.
The company was undone by a foray into insuring structured products. In 1999, it formed bond insurer XL Capital Assurance, which sold guarantees on debt such as municipal bonds.
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