Hashtag: #XLCapital
Keiran Hamilton Awarded 2013 XL Scholarship
XL Group announced that the 2013 XL Scholarship has been awarded to Keiran Hamilton, Deputy Head Boy at Warwick Academy, who has successfully completed the International Baccalaureate Diploma Program. The XL Scholarship is a four-year full scholarship open to students who are Bermudian or hold Permanent Resident Certificate status and are working toward... Read more of this article
XL Group Appoints Philip Jacobs
Bermuda-based XL Group plc has appointed Philip M. Jacobs as Global Head of Capital Management, Corporate Development and Tax. Reporting to Peter Porrino, Executive Vice President and Chief Financial Officer, Mr. Jacobs will be based in Stamford, Connecticut. Commenting on the appointment, Mr. Porrino said: “We are delighted to welcome Phil to... Read more of this article
XL Group’s Wage & Hour Liability Insurance
XL Group’s Bermuda Professional Lines Unit has launched a new insurance product to specifically address the needs of Fortune 500 companies and other large employers potentially exposed to employee compensation and classification disputes. As its name suggests, the Wage & Hour Liability insurance product provides coverage for Wage & Hour defense... Read more of this article
Credit Suisse: Reinsurance Earning Estimates
Following discussions with nine reinsurers in Bermuda earlier this week, analysts at Credit Suisse find no reason to believe the growth trajectory of insurance-linked-securities reinsurance structures and the subsequent pressure it puts on pricing will dissipate for the foreseeable future. In a research not issued to investors on Friday, Credit Suisse... Read more of this article
XL Announces Plans For Global Day Of Giving
XL Group plc plans to hold its eighth Global Day of Giving on Thursday[May 23]. The company-wide employee volunteer day is dedicated to supporting the communities in which XL operates. Since inception in 2006, when XL celebrated its 20th anniversary, the Global Day of Giving has grown with XL employees donating more than 130,000 hours of community service... Read more of this article
XL To Offer Shariah Compliant Insurance Cover
XL Group, which maintains a Bermuda platform, will offer Shariah compliant insurance cover to large corporate and middle market clients. Initially it will focus on Property cover, with a maximum capacity of up to USD 300 million. With this offer it is targeting markets world-wide, with the exception of the U.S. and Canada. Having established a binder... Read more of this article
XL Group “Delivered Solid Results” In 2013 Q/1
XL Group PLC — which maintains its executive offices in Bermuda along with a major local platform — yesterday [May 2] reported first-quarter profit had nearly doubled. Domiciled in Ireland, the property-and-casualty insurer and reinsuerer cited more premiums earned and a lack of catastrophes for its improved financial performance. “In... Read more of this article
XL Group Expands Its Footprint In Atlanta
XL Group — which maintains its executive headquarters and major operational platforms in Bermuda — is expanding its footprint and boosting its insurance underwriting operations with new additions to its Primary Casualty, Excess Casualty, Marine, Construction and Regional Management teams in Atlanta. “Atlanta is the global headquarters... Read more of this article
XL Promotes O’Malley In Environmental Business
Bermuda based XL Group plc’s insurance operations promoted Matthew V. O’Malley, CPCU, ARe, CRIS to lead its Environmental business. Mr. O’Malley previously served as head of Environmental Underwriting Operations, overseeing the business’ field operations and sales and marketing activities. In his new role, he will lead all underwriting,... Read more of this article
XL Expect $350M Loss From Hurricane Sandy
XL Group plc today announced its preliminary net loss estimate related to Storm Sandy of $350 million, pretax and net of reinsurance and reinstatement premiums. Approximately 60% of the Company’s estimated loss relates to the Reinsurance segment. Within the Reinsurance segment, the loss estimate is comprised of approximately 20% for Marine and... Read more of this article
XL Group Appoints Craig Wenzel As Senior VP
XL Group plc announced the appointment of Craig Wenzel as Senior Vice President, Capital Markets. In this newly-created role, Mr. Wenzel will be responsible for managing and developing relationships with third party capital providers in support of XL’s global underwriting activities. Mr. Wenzel joins from Deutsche Bank Securities Inc., where he... Read more of this article
XL Announce 2012 Third Quarter Results
Bermuda-based XL Group plc reported its third quarter 2012 results, showing a net income and operating net income of $171.9 million and $188.0 million, respectively, compared to net income and operating net income of $42.4 million and $88.8 million, respectively, in the prior year quarter. Net investment income for the quarter was $239.5 million compared... Read more of this article
XL Group Declare $0.11 Quarterly Dividend
Bermuda-based XL Group plc has declared a quarterly dividend of $0.11 per ordinary share payable on the Company’s ordinary shares. The dividend will be payable on December 31, 2012 to ordinary shareholders of record as of December 14, 2012. In addition, its wholly-owned subsidiary — XLIT Ltd. — resolved to pay a dividend of $8.8173 per... Read more of this article
A.M. Best Affirms Ratings Of XL Group
A.M. Best Co. has affirmed the financial strength rating of A [Excellent] and issuer credit ratings of “a” of the property/casualty subsidiaries of the holding company, Bermuda-based XL Group plc led by XL Insurance Ltd. Concurrently, A.M. Best has affirmed the ICRs of “bbb” of XL and XLIT Ltd as well as all debt ratings of XLIT Ltd. The outlook... Read more of this article
XL Group Opens New Office In Lyon France
XL Group plc’s insurance operations today [Sept 20] announced the opening of a new insurance office in Lyon as well as the appointment of Auberi Etienne and Clotilde Bartok to join the team serving middle market companies in France. With full underwriting authority, Mr. Etienne and Mrs. Bartok will be able to respond to the needs of a solid base of... Read more of this article
XL Group Clarifies Dividend Record Date
On August 7, 2012 Bermuda-based XL Group plc stated that its Board of Directors had declared a quarterly dividend of $0.11 per ordinary share, payable on October 1, 2012 to ordinary shareholders of record as of September 15, 2012. As September 15, 2012 falls on a Saturday, the effective record date for the dividend will be Friday, September 14, 2012. Related... Read more of this article
