XL Group News

Insurance Policy Led by Catlin, XL Gives Cash Boost to German Soccer Team

A rare insurance deal gave Borussia Dortmund, Germany’s only publicly traded soccer club, a financial boost even as the team had its worst performance in the Bundesliga championship in seven years. Dortmund finished seventh in the league, failing to qualify for Europe’s …

XL Group Posts Q2, 1st HY Earnings; Boosted by Catlin Acquisition

XL Group’s second quarter report showed a net decrease in operating income to $245.8, compared to $279.6 million in Q2 2014. For the first half of 2015 XL reported operating earnings of $440 million, down from $518 million in 2014. …

XL Appoints Citigroup Veteran McQuade as Chairman After Catlin Acquisition

XL Group plc, the insurer that acquired Catlin Group Ltd., named Citigroup Inc. veteran Eugene McQuade as chairman as the company prepares for increased regulatory scrutiny. McQuade, a director since 2004, replaces Robert Glauber, who had been chairman since 2009 …

XL Looks to Illiquid Securities, Infrastructure to Boost Yields: McGavick

XL Group plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near record lows. “We can get a little bit into the …

XL Reports Q1 Operating Net Income of $194.4M, Combined Ratio at 88.9%

Dublin-based XL Group plc reported first quarter operating net income of $194.4 million, or $0.75 per share, for the first quarter on a fully diluted basis, down from $238.6 million, or $0.85 per share, for the same period in 2014. …

XL CEO: ‘Reinsurance Sector Littered With Roadkill’, Playing High Stakes Game

XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made insurance deals. McGavick announced a plan …

German Soccer Club Insured for Revenue Losses; Policy Led by Catlin, XL

Borussia Dortmund is using an unusual insurance policy to recover most of the income it is losing for failing to qualify for European soccer’s elite Champions League for the first time in five years, according to two people with knowledge of the …

XL Group Introduces New Environmental Excess Policy Form

XL Group’s Environmental insurance business has created a new excess insurance policy to provide clients and brokers in the U.S. and Canada with a simplified way to buy an additional layer of environmental insurance protection. This new excess insurance form …

EXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe

The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …

XL Launches Stand-Alone Auto Parts Recall Policy

XL Group announced the launch of a stand-alone automotive parts recall policy, a tailored insurance solution designed for suppliers in the automotive industry. The policy delivers a choice of coverage to respond to the increased exposures and liabilities related to …