Hashtag: #XLCapital
XL Acquires Global Ag Insurance Services
XL Reinsurance America Inc., a subsidiary of XL Group plc, has acquired Global Ag Insurance Services, a crop insurance provider based in the western United States. The two companies initially partnered in 2011 to deliver crop insurance solutions to western specialty crop producers and growers through the USDA multi-peril crop insurance program. Recognizing... Read more of this article
XL Group Increase Share Buyback Program
XL Group plc increased the Company’s share buyback program, authorizing the Company to buy back up to $1 billion of its ordinary shares. This includes approximately $200 million of ordinary shares that remained available for purchase under the program. The Company expects the purchases to be made from time to time in the open market or in privately... Read more of this article
XL Nominates Anne Stevens To Board
XL Group plc today [Feb 24] announced that Anne Stevens will be nominated for election at its upcoming annual general meeting. Ms. Stevens has extensive global business operating experience across the automotive, aerospace and oil sectors. Ms. Stevens spent most of her executive career at the Ford Motor Company, ultimately as Chief Operations Officer... Read more of this article
XL Group Bermuda Partners With Sullivan Group
XL Group’s Bermuda Insurance Operations today [Feb 11] announced a new partnership with The Sullivan Group [TSG], one of the premier providers of clinical risk and loss prevention services to hospitals, physicians and nurses throughout the US. Through this new partnership, XL Group’s Bermuda Insurance Operations, XL Insurance Bermuda Ltd [XLIB],... Read more of this article
XL Group Net Income Jumps To $1.06 Billion
XL Group has reported a net income of $300.8 million for the fourth quarter of 2013, up from $81.4 million in the comparable quarter of 2012. Net income for the full year was $1.06 billion, up from $651 million in 2012. The dramatic increase in profitability was “primarily due to lower natural catastrophe losses in the current quarter and higher net... Read more of this article
XL Group Appoints Rebecca Dupré As SVP
XL Group’s Bermuda Insurance Operations announced the appointment of Rebecca Dupré as Senior Vice President, Underwriting Manager, Excess Casualty. Ms. Dupré, who has 25 years of Excess Casualty underwriting and operations experience, reports to Chief Excess Casualty Underwriter Carla Greaves. Her responsibilities include overseeing the management... Read more of this article
XL Group Engineer’s New App For Complex Risk
XL Group’s insurance risk engineers are now using a new app designed for the company to transform how property loss prevention services and risk assessments are carried out and delivered. The app allows engineers to have, at their fingertips, access to data and resources which allows them to better undertake a survey. And they can input data, update... Read more of this article
Chris McKeown Appointed Chief Executive Officer
XL Group plc announced that industry veteran Chris McKeown has been appointed Chief Executive Officer of New Ocean Capital Management Limited, the investment management company recently formed by XL and funds managed by Stone Point Capital. The Bermuda-based company will focus on providing third-party investors access to insurance-linked securities... Read more of this article
XL Announces Pricing Of $600m Of Senior Notes
Bermuda-based XL Group plc announced that its wholly-owned subsidiary, XLIT Ltd., has priced a public offering of $300,000,000 aggregate principal amount of 2.30% Senior Notes due 2018 and $300,000,000 aggregate principal amount of 5.25% Senior Notes due 2043, both of which will be fully and unconditionally guaranteed by XL. XL-Cayman expects to receive... Read more of this article
XL Group Appoints Raymond Chiusano
Bermuda-based XL Group announced that Raymond Chiusano has been appointed Senior Vice President, Chief Property Underwriter in XL’s Bermuda Insurance operations. Mr. Chiusano, who will report to President of XL Insurance [Bermuda] Ltd Patrick Tannock, is responsible for leading XL Group’s new Property dual platform access strategy in Bermuda. The... Read more of this article
A.M. Best Revises XL To Positive From Stable
A.M. Best Co. has revised the outlook for the issuer credit rating [ICR] to positive from stable as well as affirmed the financial strength rating [FSR] of A [Excellent] and ICRs of “a” of the property/casualty subsidiaries of XL Group plc, led by XL Insurance [Bermuda] Ltd [Hamilton, Bermuda]. The outlook for the FSR is stable. Concurrently, A.M.... Read more of this article
XL Group Declares $0.14 Quarterly Dividend
XL Group has declared a quarterly dividend on October 24, 2013 of $0.14 per ordinary share payable on the Company’s ordinary shares. The dividend will be payable on December 31, 2013 to ordinary shareholders of record as of December 13, 2013. The Company also announced that the Board of Directors of its wholly-owned subsidiary, XLIT Ltd., resolved... Read more of this article
XL Estimate Germany, France Hailstorms Loss
XL Group said its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 is about $60 million, pretax and net of reinsurance and reinstatement premiums. The majority of these losses relate to the Reinsurance segment, the Company said According to catastrophe modeling firm AIR Worldwide, losses for... Read more of this article
XL & Stone Point To Launch New Company
Bermuda-based XL Group and private equity firm Stone Point Capital LLC announced today the formation of a new Bermuda-based company to act as an investment manager in insurance-linked securities [ILS] and other reinsurance capital markets products. XL has a 75% ownership stake in the company and funds managed by Stone Point have the remaining 25% ownership. When... Read more of this article
XL Expect $135 Million Loss From Catastrophes
Bermuda-based XL Group plc today [July 10] announced its preliminary net loss estimate in the second quarter of 2013 of approximately $135 million relating to natural catastrophes. This estimate is pretax and net of reinsurance and reinstatement premiums, and is split approximately 55% and 45% between the Company’s Insurance and Reinsurance... Read more of this article
XL Group Appoints Wesly Guiteau As Senior VP
XL Group’s Bermuda Excess Casualty Unit today [July 2] announced the appointment of Wesly Guiteau as Senior Vice President, Underwriting Manager in the insurance operations. Mr. Guiteau, who has close to 15 years of industry experience, will report to Chief Excess Casualty Underwriter Carla Greaves. His responsibilities will include shaping and executing... Read more of this article
