XL Dividends imminent
Global insurance and reinsurance provider XL Capital has declared a quarterly dividend of $0.10 per ordinary share to be paid on 30 June 2009. In addition, a dividend of $0.76275 per share on the company’s series C perpetual non-cumulative preference shares will be paid on 15 July 2009.
RSA Fears ‘Unfounded’
Panmure Gordon & Co has issued RSA with a buy recommendation. “RSA shares have been impacted by what we believe are unfounded fears of a need to increase asbestos provision. In our view this gives investors an excellent buying opportunity. RSA has high growth potential from emerging markets, a strong diversified risk portfolio in mature markets and the benefit of further cost initiatives,” said Panmure’s report.
Quinn slides on rich list
Insurance magnate Sean Quinn suffered one of the biggest losses in wealth on this year's Sunday Times Rich List, seeing it fall by 38% to £2.3bn. His family's fortune has dropped £1.44m to £2,295m, although they stay second on the overall Irish list. Overall, Quinn was listed in 13th place in the Rich List.