XL Group launches $550mn share buyback

XL Group has announced plans to repurchase $550mn of securities in
XL Cayman and Catlin Insurance Company through its Cayman
subsidiary.
The closing of the tender offer remains contingent upon the
company closing an anticipated fixed-rate debt financing
transaction, which it said would result in minimum gross proceeds
of $500mn.
The offer, which XL Group said it will fund with cash on hand
from the debt financing, will expire on 6 July....