XL Capital Ltd out of Hamilton, Bermuda has changed the company’s financial reporting presentation by expanding its segment reporting to five segments.
The new segment presentation will consist of the Insurance, Reinsurance, Life Operations, Financial Lines and Security Capital Assurance operating segments. The changes to the reporting segments reflect changes in executive management responsibilities following the initial public offering of Security Capital Assurance Ltd in August 2006. The changes include the re-presentation of the company’s former Financial Products and Services segment into the Financial Lines and SCA segments.
These financial reporting changes will take effect beginning with the third quarter 2006 financial results, which will be released on October 24.
Source: XL Capital Ltd
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