XL Catlin Raises Global Property Capacity by 25% to $500 Million

XL Catlin has raised its global property insurance capacity by 25 percent to US$500 million, which is available on a quota share or layered basis,.

With this capacity increase, the company said it will better address clients’ global and domestic property insurance needs.

“Globally, our clients’ property assets are critical to their operations, and as technology progresses and insurable values continue to increase, our coverage needs to reflect that advance, across the globe,” commented Tim McMahon, XL Catlin’s chief underwriting officer, Global Property, Insurance.

“Serving clients in over 200 countries, we believe this additional capacity reflects our ongoing commitment to our clients,” said Ian France, chief underwriting officer, International Property,

“In the US and Canada, increasing property values, more investment activity in industrial and commercial property, and added concern about natural catastrophe exposures are prompting our clients to seek more insurance protection,” affirmed Michele Sansone, president of XL Catlin’s North America Property business.

Source: XL Catlin

Topics Property AXA XL Funding