KBW Maintains Market Perform Rating On XL

XL Group XL reported a ROCK of [$0.57, $0.74, $0.67, $0.67] with the beat driven by reserve releases, KBW reports. “The combined ratio was 91.4% with 9.5% of releases,” KBW writes. “Organic premium growth was 8.6%, driven by international professional lines, construction and marine. Buyback was 11.8m and book value grew to $29.78.” KBW is maintaining its Market Perform rating on shares of XL Group, which closed Tuesday at $23.69.