Hashtag: #XLCapital
XL Comments on S&P Revised Outlook
XL Group commented on today’s [Nov 23] Standard & Poor’s announcement that it has affirmed XL’s ratings and has revised the outlook to “Stable” from “Negative”. Additionally S&P reported that it has changed its assessment of XL’s Enterprise Risk Management to “Strong” from “Adequate”. XL... Read more of this article
XL Bermuda To Offer Product Recall Insurance
XL Insurance Bermuda Ltd (XLIB) has launched its new Product Contamination policy, which will cover companies for product recalls, including forced and/or government recalls due to various reasons including; accidental or malicious contamination, product extortion and adverse publicity. Numerous companies have had to recall millions of products due... Read more of this article
XL 2010 Second Quarter Results
XL Group reported its results for the second quarter of 2010. Commenting on the Company’s performance, Chief Executive Officer Mike McGavick said “We are pleased to report another quarter of solid operating results. Our P&C operations delivered a healthy combined ratio of 92.2% which includes 6.8 points of favorable prior period development.... Read more of this article
XL: Dividend of $0.10 Per Ordinary Share
XL Group announced today [July 26] that its Board of Directors has declared a quarterly dividend of $0.10 per ordinary share payable on the Company’s ordinary shares. The dividend will be payable on September 30, 2010 to ordinary shareholders of record as of September 15, 2010. T The payment of the dividend is contingent on the completion of certain... Read more of this article
XL Awards Scholarship To Oxford Bound Teen
XL Group announced that the 2010 XL Scholarship has been awarded to Warwick Academy graduate Kevin Minors. The XL Scholarship is a four-year full scholarship open to Bermudians working towards a degree in insurance-related studies. Eighteen-year-old Kevin, the son of Kevin Sr. and Carol Minors, of Sandys, was selected from a field of 48 applicants for... Read more of this article
XL Foundation Donates $30,000 To Victor Scott
Following news that Government would not provide the funds, XL Foundation stepped up this morning [July 6] with a $30,000 donation to Victor Scott Primary School, in order to provide funding for their summer school program which helps over 40 children with learning difficulties, and emotional or behavioral problems. In addition to this corporate donation... Read more of this article
XL Capital Plans Global Day Of Giving Tomorrow
XL Capital Ltd will hold its fifth Global Day of Giving tomorrow [May 27]. The employee volunteer day is dedicated to supporting the communities in which XL companies operate. Within Bermuda, XL plans to remove rubble dumped at the old casemate and hammerout concrete filling of the gunport at the Royal Naval Dockyard; rake, weed, prune and clean a sensory... Read more of this article
Oil Explosion To Cost XL Capital $30 Million
During the first quarter earnings call, XL Capital Chief Executive Mike McGavick said BP’s Gulf of Mexico explosion and oil spill will cost the company $30 million. Mr McGavick said the $30 million is property damage exposure to the rig itself, and includes $5 million in reinstatement premiums. He prefaced his comments by saying they “deeply... Read more of this article
Despite Chile XL Records $128 Million Net Income
Despite suffering what CEO Mike McGavick termed the “heaviest levels of first quarter catastrophe activity in history” one of Bermuda’s largest reinsurers XL Capital Ltd today reported net income of $128 million, or $0.37 per ordinary share for the period ended March 31, 2010. The 2010 first quarter results are a drop from 2009, which... Read more of this article
XL Capital Ltd New VP & CFO: Irene Esteves
XL Capital Ltd has announced Irene M. Esteves to Executive Vice President and Chief Financial Officer. Ms. Esteves will join the Company on May 17. She has been granted a temporary work permit and is expecting to work based in Bermuda. Ms. Esteves, who has more than 20 years of experience in financial, strategic M&A and investment risk management... Read more of this article
XL Capital Seen As Possible Acquisition Target
One of Bermuda’s biggest reinsurance companies has takeover rumours swirling around it, as investors and analysts said today [Apr 13] that XL Capital may be an acquisition target as weak prices in the business fuel more deals. One of the main names being put forward as a possible acquirer is Germany’s Munich Re, one of the world’s... Read more of this article
Bermuda Reinsurer Chile Estimates Hit 2 Billion
The catastrophic earthquake in Chile on Feb 27, 2010 is projected to be the most expensive insured loss in Latin American history, according to analysts at the international broker Cooper Gay. The powerful earthquake registered 8.8 on the Richter Scale and caused significant destruction. NASA reports that the magnitude 8.8 earthquake in Chile may... Read more of this article
