XL Europe Ltd. announced the formation of a new $50,000,000 gross line U.S. liability underwriting unit based in London and has appointed Glenn Burles to head up this unit.
Burles, formerly the chief underwriting officer of Zurich Specialties London Ltd., will lead a team of four specialists who will underwrite this book of business. Senior members of the new team are Neil
Smith and Paul Tooley.
This new unit will underwrite North American casualty umbrella and excess business from XL’s London office at 70 Gracechurch Street. The $50 million capacity will be independent of and additional to XL’s existing U.S. casualty capacity available through Bermuda, Dublin or the U.S. The issuing carrier will be XL Europe Ltd., rated AA- by Standard & Poors
“XL Insurance” is the brand name used by XL Capital Ltd.’s (“XL”) global insurance operations, which through its own operations and
network of fronting partners, offers primary to excess cover in multiple
products in approximately 65 countries.
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