Hashtag: #XLCapital
CEOs: Rate Increases Won’t Off-Set Losses
Investment yields, low interest rates, less-favorable reserves and high catastrophe losses are working together to create a market hardening, according to Bermuda reinsurance and specialty-insurance executives. However, rate increases are not enough to offset losses, according to a report in re/insurance journal “Property Casualty 360″ today... Read more of this article
XL Capital: “Progress Continued During Q3″
Headquartered in Ireland and with its executive offices in Bermuda, XL Group plc this week reported its third quarter 2011 results. Commenting on the company’s performance, CEO Mike McGavick said: “Progress continued at XL in the quarter, and our own efforts were joined by a new factor — an improving rate environment. “Our top... Read more of this article
The 9/11 Attacks & Bermuda’s Class Of ’01
The tenth anniversary of the September 11 terror attacks on the US last month provided time for reflection on how the world has changed for good and ill since then, the “Financial Times” reported this week — saying both Bermuda and the global insurance industry were altered beyond recognition by those events. Osama bin-Laden’s... Read more of this article
XL Group Appoints Canadian Banker To Board
XL Group today [Oct. 27] announced that Suzanne B. Labarge has joined the company’s board of directors. Headquartered in Ireland with its executive offices in Bermuda, XL Group, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional... Read more of this article
XL Partners With “Financial Times”
XL Group this week announced its sponsorship of a new “Financial Times” digital initiative focussed on the changing trends in global business and how those trends impact companies’ operations. Headquartered in Ireland with its principal executive offices in Bermuda, XL is one of the world’s leading re/insurance and financial... Read more of this article
Fitch Rates XL’s Shares ‘BB+’
Fitch Ratings has assigned a ‘BB+’ rating to XL Group Ltd.’s (XL) recently announced $350 million issue of series D preference ordinary shares. Fitch has also affirmed its existing ratings on XL and its property/casualty (re)insurance subsidiaries. The Rating Outlook is Stable. The preference ordinary shares are being issued as part... Read more of this article
XL Estimates Q3 Losses: $90/120M
XL Group plc announced preliminary net loss estimates of approximately $90 million to $120 million related to catastrophe loss events in the third quarter of 2011, including Hurricane Irene, Tropical Storm Lee, the September Texas Wildfires and the July Danish Floods. A statement released by the Company said, “Approximately three quarters of... Read more of this article
XL To Host Insurance Seminar
XL Group plc today [Oct.6] announced that, as part of its 25th anniversary, its subsidiary XL Insurance (Bermuda) Ltd [XLIB] will host a seminar in Bermuda on October 10 featuring a number of insurance experts, including Thorn Rosenthal, the author of the XL-004 casualty policy. This policy, versions of which have been offered by XL since its founding... Read more of this article
XL Group Unveils Global Rebranding
XL Group today [Oct.3] launched a new global brand and marketing campaign. The campaign, which includes a new logo and “Make Your World Go” tagline, aims to “capture the powerful combination of talent, innovation and drive at XL and its commitment to advancing progress and helping clients to do the same.” Chief Executive Officer... Read more of this article
XL: Prior Approval To Establish In Brazil
XL Group plc and its subsidiaries today announced that the XL group of companies has received prior approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), to establish an insurance operation in the country. Upon receipt of final regulatory approval, XL plans to open XL Seguros Brasil S.A. in Sao... Read more of this article
A.M. Best Affirms Ratings of XL Group
A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of the holding company, XL Group plc (XL) (Ireland) XL -4.08% led by XL Insurance (Bermuda) Ltd (Hamilton, Bermuda). Concurrently, A.M. Best has affirmed the ICR of “bbb”... Read more of this article
XL Boosts Property Capacity To $750m
XL Insurance, the global insurance underwriting operations of XL Group plc, today [Sept.19] announced an increase in its property insurance capacity from $600 million to $750 million. According to Joseph Tocco, head of XL Insurance’s North America Property unit, “More businesses are showing a preference to work closely with one carrier to... Read more of this article
