LONDON and NEW YORK, Sept. 7,
2016 /PRNewswire/ -- To accommodate increasing property
values around the world and more complex risks, XL Catlin extended
its global property insurance capacity to USD 400 million, a more than 25 percent increase
from its previous USD 300 million
capacity. XL Catlin's enhanced capacity is available on a
quota share or layered basis to meet a wide variety of commercial
businesses and industries' global and domestic property insurance
needs.
According to Doug Howat, XL
Catlin's Chief Executive, Energy, Property, & Construction,
"Our clients' property risk management needs are changing.
We've seen commercial and industrial property values rise,
facilities growing more high tech, and natural catastrophe events
take their toll. Our added capacity allows us to effectively
address these increasing values and take more active participation
in our clients' global property protection efforts."
Ian France, Chief Underwriting
Officer, International Property, added: "As businesses continue to
extend their global reach, establishing operations around the
world, they need cross-border insurance protection. Our added
capacity and ability to provide property insurance in more than 200
countries makes us a strong insurance partner for any global
business."
Michele Sansone, President of XL
Catlin's North America Property business noted: "XL Catlin has
built a distinct reputation for addressing the insurance needs of
high-risk property, locations that are inherently risky because of
the nature of their operations or particularly exposed to natural
forces such as hurricanes, earthquakes, and floods."
In addition to offering its new USD 400
million of property insurance capacity on a shared program,
XL Catlin offers capacity up to USD 1
billion for clients who purchase 100 percent of their
property insurance through XL Catlin's Platinum Property
program. XL Catlin's property coverage is delivered by a
dedicated team of underwriters, risk engineers and property claims
managers who specialize in addressing large, complex property
risks.
About XL Catlin Insurance Operations
XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group ltd.'s
(NYSE:XL) insurance and reinsurance companies which provide
property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin