Hashtag: #XLCapital
XL Group 2011 Second Quarter Results
XL Group today [Aug.2] reported its second quarter 2011 results; operating net income of $243.1 million, or $0.75 per share, for the quarter, while net income attributable to ordinary shareholders of $225.7 million, or $0.69 per share for the quarter. Commenting on the Company’s performance, Chief Executive Officer Mike McGavick said: “XL’s strong... Read more of this article
XL Remarketing Plans For 8.25% Senior Notes
XL Group plc announced today [July 22] that its wholly-owned subsidiary, XL Company Switzerland GmbH, has entered into a Remarketing Agreement relating to the remarketing of XL’s $575 million aggregate principal amount of 8.25% senior notes due August 2021 comprising a part of the Equity Security Units issued in 2008. Goldman, Sachs & Co. will... Read more of this article
2011 XL Scholarship Awarded To Rowan Border
The 2011 XL Scholarship has been awarded to Saltus Grammar graduate Rowan Border. The XL Scholarship is a four-year full scholarship open to Bermudians working towards a degree in insurance-related studies. 18-year-old Rowan, the son of Alistair and Karen Border of Warwick, was selected from a field of 40 applicants for the scholarship. Rowan, who received... Read more of this article
Porrino To Join XL: Chief Financial Officer
XL Group plc announced today [June 16] the appointment of Peter R. Porrino as Executive Vice President and Chief Financial Officer. Mr. Porrino will join the Company in late August. Mr. Porrino, who has more than 30 years of experience working in and advising the insurance industry, including considerable property and casualty insurance and reinsurance... Read more of this article
XL Estimates Storm Cost at $50-75m
XL Group today [June 13] announced preliminary net loss estimates related to the severe weather occurrences, including devastating tornado activity, which affected the Midwest and Southeast United States over the periods April 22 – 28 and May 20 – 23, 2011. XL’s preliminary loss estimates related to the Storms, pretax and net of reinsurance... Read more of this article
XL Group CFO Irene Esteves Is Leaving Firm
XL Group, which maintains its executive offices in Bermuda, announced today [May 24[ that Irene M. Esteves will be leaving the company following a transition period to pursue an opportunity with a Fortune 150 Company outside the insurance industry. XL will initiate a search for M. Esteves’ replacement. Mike McGavick, CEO of XL, stated, “Irene... Read more of this article
Photos: 2011 XL’s Global Day of Giving
This past Monday [May 16] some 2,400 XL employees in 22 countries worked on more than 150 projects during XL’s sixth annual Global Day of Giving. In Bermuda, nine working groups tackled tasks for PALS, Salvation Army, Bermuda National Trust, Bermuda National Museum, Bermuda Zoo Society, Bermuda Hospital Auxiliary, Meals on Wheels, SPCA and Westmeath.... Read more of this article
XL To Hold Its Sixth Global Day Of Giving
From Bermuda to India, employees of XL Group will be giving back to the communities the international re/insurer operates in on Monday [May 16] with staff participating in their sixth annual Global Day of Giving. The employee volunteer day, first held in 2006 when XL celebrated its 20th anniversary, is among several activities planned by... Read more of this article
XL Announce Q1 Net Loss Of $227 Million
Global re/insurer XL Group yesterday [May 3] reported a net loss attributable to ordinary shareholders was $227.3 million, or loss of $0.73 per share for the first quarter of 2011, compared to a net income of $128 million, or $ 0.37m per share, in the first quarter of 2010. XL — headquartered in Ireland but with its executive offices in Bermuda – said... Read more of this article
XL Launches Bermuda Longtail EPL Form
XL Insurance (Bermuda) Ltd [XLIB] announced that it has enhanced its Employment Practices Liability Policy to address the latest EPL risks by launching the XL Bermuda Longtail EPL Form. XLIB Professional Lines Chief Underwriting Officer James Loder said: “In the current economic environment of workforce reduction, challenging working conditions,... Read more of this article
XL on Japan Losses: $190 – $290 Million
XL Group plc today [Apr.4] announced a preliminary net loss estimates for the March 11, 2011 earthquake and tsunami in Japan of approximately $190 million to $290 million, with approximately 70 percent attributable to XL’s reinsurance segment. The Company’s estimates are based on a combination of commercial model outputs and its review... Read more of this article
Official Opening of XL Chinese Operations
XL Group plc announced that its new Property & Casualty (non-life) subsidiary in Shanghai, China, is open for business effective April 1st. XL Insurance (China) Company Limited offers products and services in Property, Casualty, Specialty and Professional Lines and is led by Zheqiang (Al) Xie, as Chairman and CEO of this subsidiary. Mike McGavick,... Read more of this article
