Hashtag: #XLCapital
XL Completes Redomestication To Bermuda
XL Group Ltd announced today [July 25] that it has completed its redomestication to change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. As previously announced, the name of the new holding company is XL Group Ltd. XL Group Ltd is registered with the Securities and Exchange Commission under the Securities... Read more of this article
XL Announce 2016 Q2 Preliminary Loss Estimate
XL Group plc announced its preliminary net loss estimate in the second quarter of 2016 of approximately $240 million relating to natural catastrophes. “This preliminary estimate is pretax and net of reinsurance and reinstatement premiums and is split approximately $100 million in the Insurance segment and $140 million in the Reinsurance segment,”... Read more of this article
XL Group Approve Redomestication To Bermuda
XL Group‘s ordinary shareholders have approved a scheme of arrangement that will change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. XL shareholders also approved the other proposals necessary for the redomestication to proceed as set forth in the Company’s definitive proxy statement filed with... Read more of this article
Kyrsten Burrows Selected As XL Catlin Scholar
XL Group plc announced today that the 2016 XL Catlin Scholarship has been awarded to Kyrsten Burrows, Deputy Head Boy at The Berkeley Institute, and a graduate of the dual enrolment program at the Bermuda College. The XL Catlin Scholarship is a four-year full scholarship open to students who are Bermudian or hold Permanent Resident Certificate status... Read more of this article
Strong Endorsement Of Jurisdiction’s Reputation
“XL Group’s decision to move its place of incorporation to Bermuda is a strong endorsement of our jurisdiction’s reputation,” BDA CEO Ross Webber said, while ABIR President Brad Kading said XL’s plans are a “signal that Bermuda’s insurance regulation meets critical international and bi-lateral regulatory standards.” XL Plans... Read more of this article
XL Group Propose Redomestication To Bermuda
XL Group plc announced today [Feb 29] that it proposes to change the parent holding company’s place of incorporation to Bermuda from Ireland. XL’s Chief Executive Officer, Michael McGavick, said: “Establishing our corporate home in Bermuda is a natural step for XL. XL has had a presence in Bermuda since 1986, which grew significantly... Read more of this article
XL Catlin: “Insurance for a Bold New World”
Following the completion of XL Group plc‘s cquisition of Catlin Group Limited on May 1, XL and Catlin have officially joined operations and launched a new brand, XL Catlin. As of now, XL’s insurance and reinsurance operations will use the brand name XL Catlin. The parent company will remain XL Group plc. XL Catlin’s CEO Mike McGavick... Read more of this article
XL Ratings Affirmed Following Catlin Acquisition
A.M. Best has removed from under review with negative implications and affirmed the financial strength rating [FSR] of A [Excellent] and the issuer credit ratings [ICR] of “a+” of the ongoing property/casualty [P/C] subsidiaries of XL Group plc, based on the recent announcement that XL has closed on the acquisition of Catlin Group Limited. A statement... Read more of this article
XL Group Completes Acquisition Of Catlin Group
XL Group plc has completed the acquisition of Catlin Group Limited following the parties’ previously announced entry into an agreement on January 9, 2015 to acquire all of the capital stock of Catlin to form a combined business . The closing of the transaction follows the receipt of all necessary regulatory approvals, Catlin shareholder approval,... Read more of this article
XL Group Introduces Venture Capital Initiative
XL Group plc announced the creation of XL Innovate, an XL sponsored venture capital initiative. The new fund will be led by Tom Hutton, known for his leadership in the creation of insurance and financial technology ventures. XL Innovate will be financially backed by XL and will invest in companies that have a strategic focus on developing new capabilities... Read more of this article
XL Group To Buy Catlin Group For $4.1 Billion
XL Group today [Jan 9] announced that it has entered into an agreement under which XL will offer to acquire all of the capital stock of Bermuda-based Catlin Group Limited to form a combined business to be known as XL Catlin, with the deal worth approximately $4.1 billion dollars. The transaction is structured as a scheme of arrangement and is expected... Read more of this article
XL Confirm “Preliminary Discussions” With Catlin
Following reports they made a $3.9 billion offer to buy Catlin Group, XL Group today [Dec 17] confirmed that it is “engaged in preliminary discussions with Catlin regarding a potential transaction to acquire the company and form a combined entity.” Bloomberg reported that Catlin Group Ltd. said it received a takeover approach from XL valued... Read more of this article
