Bermuda-based EXEL Ltd. has announced it intends to establish a wholly-owned subsidiary, XL Reinsurance Company Ltd., to provide specialty reinsurance coverage for captives, commercial insurance reinsurance companies, with a start-up capital of $250 million. It is expected to be operational by December 1, 1995.In addition, another EXEL subsidiary, XL Insurance Company Ltd., will increase the maximum limits offered to general liability clients to $150 million from $100 million. Individual directors and officers liability insurance limits for “Side A” coverage only are being raised to $50 million from $25 million.
EXEL forms reinsurer
29 years ago
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Bermuda InsuranceKeywords
Bermuda Insurance Market XL Insurance