XL Capital Ltd · Hamilton Bermuda ·(NYSE: XL)
Company Description
Phone: +1-441-292-8515
Fax: +1-441-292-5280
Toll Free: 800-622-7311
Rankings
- S&P 500
View XL Capital Ltd Locations On A US Map
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This link will open in a new window Need insurance on that telecommunications satellite? XL-ent! XL Capital, headquartered in Bermuda (not only for tax reasons; the company originates more than 10% of its premiums there), writes liability insurance and reinsurance worldwide, specializing in low-frequency, high-severity risks from riots to natural disasters. The company writes policies through numerous subsidiaries, many of them offshore, and also manages a Lloyd's of London syndicate. Targeted towards large and midsized corporations, XL Capital's coverage includes general and executive liability, property, and political risk insurance. Its reinsurance covers property, aviation, energy, nuclear accident, and professional indemnity. To read the full description, subscribe now.
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Key XL Capital Ltd Financials
| Company Type | Public - NYSE: XL Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $7,148.1 |
| 2008 Employees | 4,000 |
XL Capital Ltd Executives
46 executives listed for XL Capital Ltd's Hamilton, location.
| Title | Name & Bio | Contact |
| Chairman | Robert Glauber | Network |
| Vice Chairman, XL Insurance (Bermuda) Ltd. | Clive Tobin | Network |
| CEO and Director | Michael McGavick | Network |
Competition
Competitive Landscape for XL Capital Ltd
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top XL Capital Ltd Competitors
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