NEW YORK - The yearlong slide in shares of XL Capital Ltd. continued Thursday as worries about the health of the insurance sector ratcheted up. XL shares dropped as low as $3.45, their lowest point since their 1991 debut on the New York Stock Exchange. They recently traded down $4.77, or 55 percent, at $3.91. The Bermuda-based insurance and reinsurance company had its price target cut by Sandler O'Neill & Partners before the market open, as analyst Paul Newsome expressed concern about the company's fixed income and equity investments for the third quarter. He noted XL Capital's investment portfolio holds more mortgage- and asset-backed bonds than other insurers, representing about 32 percent of the company's...
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