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$CB's net realized and unrealized gains for 1Q16 were $952MM pretax. CAT losses were $258MM pretax, primarily from US weather events. Tax rate on operating income was 16.5%, within the range of annual effective tax rate of 16-18%. Company expects investment income to be $820-840MM for balance of 2016.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.