Bermuda-based XL Capital Ltd. took another step in globally affixing the “XL Brand” to all its operations with the announcement that its principal reinsurance subsidiaries are being renamed.
“XL Re” will become “a core global brand designed to group XL’s reinsurance operations under a single banner and to better identify its worldwide reinsurance business with the XL franchise,” said the announcement.
“To reflect the new brand, XL’s Bermuda-domiciled reinsurance subsidiary, XL Mid Ocean Reinsurance Ltd. has changed its name to ‘XL Re Ltd.’ and XL’s U.S. reinsurance subsidiary, NAC Reinsurance Corp., will be re-named ‘XL Reinsurance America Inc.’, subject to obtaining regulatory approvals.”
The re-branding follows last summer’s reorganization of XL’s operations into three core sectors: Insurance, Reinsurance and Financial Products and Services. ” The re-branding is a logical step,” said XL Re CEO Henry C.V. Keeling, “which we believe gives us a common global identity and underwriting culture.”
One of the world’s leading multi-line reinsures, with $1.1 billion in premiums for the first nine months of the year, XL writes coverage on “property catastrophe, other property lines, marine and energy, aviation and satellite and other lines including political risk, credit and life reinsurance and financial products.”|”xl, re-brands, global, reinsurance, business
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