XL Capital Group Business Insights

XL Capital Group was a leading global insurance and reinsurance company that operated for over 30 years, with a presence in over 30 countries.

The company was founded in 1985 by Richard Brindle and Brian Kurre.

XL Capital Group's business model was built around providing innovative insurance and reinsurance solutions to clients worldwide, with a focus on property and casualty insurance.

Their expertise in catastrophe risk management helped them stand out in the market.

The company's global presence allowed them to tap into diverse markets and client needs, making them a trusted partner for businesses and individuals alike.

Their commitment to excellence and customer satisfaction earned them a strong reputation in the industry.

A fresh viewpoint: Blackstone Equity Company

At XL Capital Group, business operations are streamlined through a network of over 20 offices worldwide, allowing for a global reach and local expertise.

The company's international presence enables it to serve clients in over 100 countries, providing a truly global perspective.

XL Capital Group has a diverse range of clients, from individuals to multinational corporations, and offers a wide range of insurance products to suit their needs.

Their team of experienced professionals is dedicated to providing exceptional service and support to clients, helping them navigate complex insurance products and find the best solutions.

With a strong focus on innovation and technology, XL Capital Group is able to stay ahead of the curve and provide cutting-edge solutions to its clients.

Their commitment to excellence and customer satisfaction has earned them a reputation as a trusted and reliable partner in the insurance industry.

Worth a look: Xl Group Limited

Security Capital Assurance, a former subsidiary of XL Capital, found itself at the center of a conflict with Merrill Lynch in 2008. Merrill Lynch filed a complaint against SCA, claiming it was obligated to honor its contracts for Credit Default Swaps (CDS) worth around $3.1 billion.

The dispute arose from SCA's guarantee of Merrill Lynch's CDOs. In July 2008, XL Capital Ltd and Security Capital Assurance Ltd reached an agreement stating that XL Capital's assets were not affected by the conflict. The confusion stemmed from SCA's right to use XL's name until August 2008.

Readers also liked: Xl Group

XL Capital and Syncora Holdings closed joint transactions in August 2008. This move was likely a strategic attempt to mitigate the impact of the conflict.

The conflict with Merrill Lynch ultimately led to significant financial losses for XL Capital. In October 2008, XL Capital announced a loss of $1.65 to $1.67 billion in the third quarter, compared to a profit of $328 million in the same period the previous year. This was largely due to the separation of XL Capital from its subsidiary, SCA.

Here are some key facts about XL Capital: