October 17, 2017 10:07 AM ET

Insurance

Company Overview of XL Insurance Company SE

Company Overview

XL Insurance Company SE writes global risk management property/casualty insurance for large national and multinational corporations as well as professional indemnity, environmental, and specialty products. The company was incorporated in 1985 and is based in London, United Kingdom with additional offices in Sydney, Australia; Melbourne, Australia; and Singapore. XL Insurance Company SE operates as a subsidiary of XL Insurance (UK) Holdings Limited.

XL House

70 Gracechurch Street

London,  EC3V 0XL

United Kingdom

Founded in 1985

Phone:

44 20 7933 7000

Fax:

44 20 7469 1048

Key Executives for XL Insurance Company SE

Chief Underwriting Officer
VP of North America Program Team and Senior Program Executive of North America Program Team
Canadian Country Manager
Underwriting Manager of International Aviation
Vice President of New Product Development for the UK and Ireland
Compensation as of Fiscal Year 2017.

XL Insurance Company SE Key Developments

XL Catlin Secures Approval to Issue Insurance Policies in Monaco

XL Catlin has secured regulatory approval to offer insurance coverage in Monaco. The approval was granted by the Monegasque Minister of State. XL Catlin will provide insurance coverage in the country through its subsidiary XL Insurance Company SE (XLICSE) from the month of March 2017. The Monaco license would allow XLICSE to provide its insurance products on an admitted basis to local brokers and clients directly. XL Catlin Insurance France & Southern Europe regional manager Bruno Laval said the company has significant opportunity in Monaco.

XL-Bermuda Enters into New Secured Credit Agreement

On August 5, 2016, XL-Bermuda, together with its wholly-owned subsidiaries XL-Cayman, X.L. America, Inc., XL Bermuda Ltd, XL Insurance Company SE, XL Re Europe SE, XL Life Ltd, Catlin Insurance Company (UK) Ltd., and Catlin Re Switzerland Ltd., entered into a new secured credit agreement with the lenders thereunder, The Bank of Tokyo-Mitsubishi UFJ Ltd., as administrative agent, and The Bank of New York Mellon, as collateral agent, and a new unsecured credit agreement with the lenders thereunder and The Bank of Tokyo-Mitsubishi UFJ Ltd., as administrative agent. In connection with the New Credit Agreements, the company's existing secured credit agreement dated as of November 22, 2013, among the company, certain of its wholly-owned subsidiaries, the lenders thereunder, The Bank of New York Mellon, as collateral agent and JPMorgan Chase Bank, N.A. as administrative agent, as amended and otherwise modified, including pursuant to amendments dated as of February 11, 2015, May 1, 2015 and May 4, 2016, and existing unsecured credit agreement dated as of November 22, 2013 among the Company, certain of its wholly-owned subsidiaries, the lenders thereunder and JPMorgan Chase Bank, N.A. as administrative agent, as amended and otherwise modified, including pursuant to amendments dated as of February 11, 2015, May 1, 2015 and May 4, 2016, as well as certain related security arrangements were terminated and all outstanding amounts thereunder were repaid. The New Secured Credit Agreement provides for issuances of letters of credit up to $750,000,000. The New Unsecured Credit Agreement is a $750,000,000 facility that provides for issuances of letters of credit and revolving credit loans. The company has the option to increase the available commitments by an additional $250,000,000, subject to customary conditions. Interest and fees payable under the New Credit Agreements are determined pursuant to the terms set in each respective New Credit Agreement. The commitments under each New Credit Agreement commenced on August 5, 2016 and will expire on the earlier of August 5, 2021 and the date of termination in whole of the commitments upon an optional termination or reduction of the commitments by the Account Parties or in connection with the occurrence of certain events of default. The availability of letters of credit under the New Secured Credit Agreement is subject to a borrowing base requirement, determined on the basis of specified percentages of the face value of eligible categories of assets varying by type of collateral. The obligations of each of the Account Parties party to the New Secured Credit Agreement are secured by cash and certain designated securities contained in a designated collateral account of such Account Party that are pledged to the Collateral Agent by such Account Party pursuant to a pledge agreement and a collateral account control agreement.

Similar Private Companies By Industry

Company Name Region
1Answer Network Ltd. Europe
A1 Insurance Services Limited Europe
ABA Commercial Insurance Ltd Europe
Abbott & Bramwell Ltd. Europe
Acromas Holdings Ltd. Europe

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
Bertelsmann AG Europe

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact XL Insurance Company SE, please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.