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XL Group plc (XL) was founded in 1986 as EXEL Limited by 68 of the world's largest global corporations in response to a severe shortage of liability insurance in the United States. XL's insurance company, X.L. Insurance Company Limited, now known as XL Insurance (Bermuda) Ltd, provided excess liability insurance coverage for large commercial customers, drawn principally from Fortune 1000/FTSE 100 companies.
Over the past decade, XL has expanded through a series of strategic mergers, acquisitions and start ups establishing itself as a leading provider of insurance and reinsurance products throughout the world.
View highlights in XL Group's history below:
| 2010 |
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XL Group plc (NYSE: XL), formerly XL Capital Ltd, was renamed and redomesticated to Ireland as of July 1, 2010.
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| 2009 |
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Stock gains 395%, taking the number one spot on the S&P 500 Index. |
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XL announces retirement of Board Chairman Brian M. O'Hara and Directors John T. Thornton, Robert S. Parker, and Alan Z. Senter. |
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XLRe recognized for eCommerce leadership by the Association for Cooperative Operations Research and Development. |
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XL receives approval to begin preparation work to set up a P&C (non-Life) company in China. |
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Executive Appointments:
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Elizabeth L. Reeves, Executive Vice President And Head Of Global Human Resource |
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W. Myron Hendry, Chief Platform Officer |
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Board of Director Appointments:
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Clayton S. Rose |
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Tom Hutton |
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| 2008 |
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XL Capital Ltd announces agreement with Security Capital Assurance with respect to pre-IPO guarantee and reinsurance agreements. |
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XL Capital Ltd announces capital raise. |
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XL Insurance opens branch office for the Asian region in Singapore. |
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XL Re approved to begin operations in Brazil as a local, admitted reinsurer. |
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XL Insurance announces formation of Global Product Development Team. |
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XL Capital Ltd to host XL Congress, a global risk conference in Washington, D.C. |
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XL Capital Ltd to support rebuilding efforts in China earthquake disaster. |
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Executive Appointments:
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XL Capital Ltd announces appointment of David Duclos as Chief Executive of Insurance Operations |
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Celia R. Brown, Head of Global Human Resources and Corporate Relations, joins the XL Capital Ltd's leadership team |
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XL Capital Ltd names Michael S. McGavick As Chief Executive Officer |
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XL Capital Ltd announces the appointment of Jacob D. Rosengarten As Chief Enterprise Risk Officer |
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| 2007 |
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XL Capital Ltd published its 2006 Global Loss Triangles. |
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XL Insurance acquired Global Asset Protection Services LLC (XL GAPS), a leading provider of unbundled loss prevention consulting services. |
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XL Insurance opened a regional office in Houston. |
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XL sponsored the second China Insurance Industry Executive Leadership Program. |
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XL held its second Global Day of Giving, supporting the communities in which XL companies operate. |
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XL Insurance entered into an agreement to rename the Hartford Civic Center, Connecticut's premier sports and entertainment venue, to be the "XL Center". |
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Executive Appointments:
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Brian Nocco, Chief Financial Officer |
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Kirstin Romann Gould, General Counsel |
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| 2006 |
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XL commemorated its 20th Anniversary with events including Boston and Berlin XL Congresses and an inaugural Global Day of Giving, dedicated to giving back to the communities in which XL operates. |
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XL Capital Ltd and Banco Itaú Holding Financeira S.A formed a joint venture insurance company in Brazil. |
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Security Capital Assurance Ltd (SCA) and XL Group executives marked SCA's IPO at the New York Stock Exchange. |
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XL Capital Ltd opened a Representative Office in Beijing following approval by the China Insurance Regulatory Commission. |
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XL sponsored the first Sino-foreign executive training and development program for the People's Republic of China's insurance regulators and executives. |
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XL Re Europe Limited formed, a new fully-licensed European reinsurance company based in Dublin. |
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Executive Appointments included:
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Sarah Street, Chief Investment Officer |
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Jamie Veghte, Chief Executive of Reinsurance General Operations |
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Robert Douglas, Chief Executive Officer, XL Re Life |
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Daniel Sussman, Chief Executive of Financial Lines |
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| 2005 |
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XL raised $3.2 billion through the issuance of ordinary shares and equity security units. |
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XL Insurance launched a new Excess & Surplus lines unit. |
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XL completed its largest-ever annuity reinsurance transaction in the Life and Annuity reinsurance operations at $1.8 billion. |
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The Fine Art & Specie unit was strengthened, and a new underwriting team was appointed to develop International Aviation business at XL London. |
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XL acquired a minority interest in Artemis Advisors, an investment advisor in New York. |
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A new underwriting unit was formed to handle North American casualty umbrella and excess business in London. |
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| 2004 |
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XL Group appointed Eugene M. McQuade to Board of Directors. |
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XL Insurance Company Limited announces establishment of branch office in Poland. |
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XL Capital Ltd ("XL Group") contributes $100M additional capital to Financial Guaranty subsidiary. |
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XL opens new London office and partners with London charity, Community Links. |
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Paul Giordano appointed Chief Executive of Financial Products & Services operations. |
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XL launches whole account commercial property insurance initiative with capacity of $500m. |
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The XL Insurance companies expands it's Directors and Officer's product line insurance across Europe. |
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Clive Tobin appointed Chief Executive of Insurance operations. |
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| 2003 |
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XL Group hosts first XL Group Congress 'Thought Leadership for a World at Risk' in Switzerland. |
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XL America and ICAT partner to underwrite Catastrophic risks for small and mid-size businesses. |
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XL America acquires renewal rights for professional liability policies from Royal & Sun Alliance USA's DPIC unit. |
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The XL Winterthur International companies are rebranded as XL Insurance Global Risk. |
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Le Mans Re becomes a wholly owned subsidiary and is renamed XL Re Europe. |
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XL Group launches 'One Company without Borders' corporate cultural change program. |
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| 2002 |
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XL Group became the major shareholder of Le Mans Re, holding 67%. |
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XL Group Assurance Inc. established AAA rated, London-based financial guarantee subsidiary, XL Group Assurance (U.K.) Limited. |
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XL Winterthur International partnered with GE Global Asset Protection Services to offer risk management services to clients. |
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ACE Limited and XL Capital Ltd established joint chair at the School of Risk Management, Insurance and Actuarial Science of St. John's University. |
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XL Group made a strategic investment in Stanfield Capital Partners LLC. |
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| 2001 |
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XL Group appointed Dale R. Comey to Board of Directors. |
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XL Financial Assurance Ltd. and XL Group Assurance Inc. received Aaa financial strength rating from Moody's Investor Services. |
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Element Re was named 'Company Launch of the Year' by The Review. |
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XL Insurance (Bermuda) Ltd completed the purchase of Winterthur International. |
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XL Mid Ocean Reinsurance, NAC Reinsurance Corporation and Latin America Reinsurance names were changed to reflect the global branding strategy of XL Group's reinsurance operations. |
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Latin America Reinsurance company became a wholly-owned subsidiary of XL Group and changed its name to XL Re Latin America Ltd. |
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| 2000 |
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XL Specialty Insurance Company signed an agreement to purchase the US surety operations of CGU Insurance. |
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XL Capital Ltd formed Element Re Capital Products Inc. for its non-catastrophe weather risk management products. |
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XL Capital Ltd made a strategic investment in Agora Capital Management. |
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