XL ups annual cost synergies estimate again to $500mn

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...