October 17, 2017 1:56 PM ET

Insurance

Company Overview of X.L. America, Inc.

Company Overview

X.L. America, Inc. is a holding company, which through its subsidiaries, offers insurance and reinsurance coverages and services. It was formerly known as X.L. Holdings, Inc. The company was founded in 1997 and is based in Stamford, Connecticut. X.L. America, Inc. operates as a subsidiary of XL Financial Holdings (Ireland) Limited.

70 Seaview Avenue

Seaview House

Stamford, CT 06902-6066

United States

Founded in 1997

Phone:

302-661-7010

Fax:

302-778-4190

Key Executives for X.L. America, Inc.

X.L. America, Inc. does not have any Key Executives recorded.

X.L. America, Inc. Key Developments

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.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 4, 2016
XL Life Insurance and Annuity Company
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