XL Capital Ltd.'s announcement that the Bermuda-based insurerexpects an unfavorable acquisition-related arbitration to result inan $830 million charge has been greeted with alarm by analysts.
Bank of Securities senior property-casualty analyst BrianMeredith said that the action will "further damage the alreadydamaged credibility of XL's management."
"XL's management was confident that they would win arbitrationand spent a lot of time and money on consultants to come up withtheir estimate," Mr. Meredith wrote.
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