9 September 2016 Insurance

XL Catlin extends global property insurance capacity by 25 percent

XL Catlin extended its global property insurance capacity to $400 million, an increase of more than 25 percent compared to its previous $300 million capacity, to accommodate increasing property values around the world and more complex risks.

XL Catlin’s enhanced capacity is available on a quota share or layered basis to meet a wide variety of commercial businesses and industries’ global and domestic property insurance needs.

Doug Howat, XL Catlin’s chief executive officer, energy, property, and construction, said: “Our clients’ property risk management needs are changing. We’ve seen commercial and industrial property values rise, facilities growing more high tech, and natural catastrophe events take their toll. Our added capacity allows us to effectively address these increasing values and take more active participation in our clients’ global property protection efforts.”

Ian France, chief underwriting officer, international property, added: “As businesses continue to extend their global reach, establishing operations around the world, they need cross-border insurance protection. Our added capacity and ability to provide property insurance in more than 200 countries makes us a strong insurance partner for any global business.”

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