What other boards are filled with rumors? I haven't heard anything on OPL except there is a PRNewswire story today that mentions that OPL just bought shares in another Bermuda co. called Insurance Partners. Just curious on what rumors are floating out there!
The only information I've heard on OPL is that at the Nov. meeting the price will be determined by the following formula.
Current price $19.84 x 1.3 = $25.792
And also a very large rumor that it will be IPO sometime next year.
"We are also pleased to announce that Overseas Partners, Ltd., in Bermuda,
has acquired the equity shares and warrants which were owned by Insurance
Partners, LP. Overseas Partners, Ltd. (OPL) is one of the world's largest
reinsurance companies with total assets of approximately $5.0 billion and
capital in excess of $2.5 billion. OPL is expected to be a valuable partner
along with XL Capital, as both companies have long-term relationships and
benefit from our Bermudian advantage."
I don't think that management has anything better to do than type on this bulletin board all day. I think that someone needs to contact the UPS Internet Systems Department and close this web site down to Employees on Company time.
The problem with poeple who work during the day is they forget there are people working at night. UPS is a 24 hour company. Much more goes on at night and many more people work at night than in the day. That is why we are home all day to post.
I had heard that OPL was being sold to another company in the insurance business. As an ex-UPSer I would like to know what others have heard. With the IPO coming out will this expidite the sale of OPL?