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Storm prep

5 Mar 2018 By Aimee Donnellan

The French insurer is offering $15.3 bln for Bermuda-based XL to beef up coverage of storms and other catastrophes. Cost savings don’t even cover half of the 33 pct premium, while reducing debt depends on a successful IPO of AXA’s U.S. arm. It’s a hefty price for diversification.

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