Bermuda’s XL Capital Ltd. announced that it is changing the brand name used by its worldwide P/C large commercial account operation from XL Winterthur International (“XLWI”) to XL Insurance Global Risk, and the names of a number of subsidiary companies, as follows:
— U.K-based XL Winterthur International Insurance Company Limited will change its name, and the names of its branch offices, to XL Insurance Company Limited;
— XL Winterthur International Insurance Switzerland will change its name to XL Insurance Switzerland;
— Winterthur International America Insurance Company has changed its name to XL Insurance America, Inc.
— Winterthur International America Underwriters Insurance Company has changed its name to XL Select Insurance Company.
The announcement indicated that XL will make similar name changes to other divisions carrying the Winterthur name during 2003. The company completed its acquisition of the insurance operations of Winterthur International from Winterthur Swiss Insurance Co., a subsidiary of the Credit Suisse financial group, in July 2001.
Brian M. O’Hara, XL’s President and CEO, stated that “The corporate brand and legal name changes will help identify the XLWI companies more closely with XL, while at the same time bringing these subsidiaries into line with our global branding architecture.”
Nicholas M. Brown, Jr., Chief Executive of XL’s Insurance Operations, commented, “XL Insurance Global Risk is the largest operation in XL’s insurance segment and the platform that has expanded our reach throughout the world. The new brand is a clear statement of that geographic breadth.”
XL Insurance Global Risk CEO Clive Tobin indicated that he thought the time was “right for us to rebrand XLWI. We are seeing signs of a flight to quality capacity by our customers and our strategy is to make sure they understand that we are part of a financially strong, AA-rated group. The name and brand change will help us deliver that message very clearly.”
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