Our History

The U.S. liability insurance crisis of the 1980s: capacity halved, premiums doubled. Then they doubled again. Nobody was prepared to cover the risks, so nobody was prepared to take them. In 1986, 68 of the world's largest companies came together and founded what became XL Group Ltd to solve complex risks. We managed to unstick what was stuck. We found an answer to the problem. We changed the rules.

  • 2016

    • XL Group Announces Realigned P&C Operating Model and Related Senior Role Changes
    • XL Catlin Opens New Office in Monterrey, Mexico
    • XL Catlin Completes Acquisition of Brooklyn Underwriting Agency in Australia
    • XL Group completes redomestication from Ireland to Bermuda, replacing parent company XL Group plc with XL Group Ltd
    • XL Group plc shareholders approve redomestication to Bermuda from Ireland
    • XL Group plc appoints Sean McGovern as Chief Compliance Officer, Head of Regulatory and Government Affairs
    • XL Group announces $1 billion share buyback program
    • XL Group completes acquisition of Allied International Holdings, Inc.
    • XL Catlin opens new insurance office in Brisbane
    • XL Catlin signs landmark agreement with Oxbotica

    Selected Management Appointments

    • XL Group Announces Appointment of Abbe Goldstein as Director of Investor Relations
    • XL Group Ltd Announces Appointment of Andre Keller as Chief Investment Officer


    2015

    • Acquired Catlin Group Limited
    • XL Group's Reinsurance Operations open in Middle East
    • XL Group plc announces the reinsurance of the majority of its US Term Life Business
    • XL Innovate acquires New Energy Risk
    • XL Catlin opens new insurance office in Rio de Janeiro
    • XL Group announces $1 billion share buyback program
    • XL Group plc announces completion of Catlin Group Limited acquisition
    • XL Group creates new venture capital initiative: XL Innovate

    Board of Directors Appointments

    • XL Group plc announces appointment of Eugene McQuade as Chairman of the Board
    • Claus-Michael Dill, Former Board Member of Catlin Group
    • Stephen Catlin, Former Chief Executive of Catlin Group


    2014

    • XL Group sells XL Life Reinsurance (SAC) Ltd to GreyCastle Holdings Ltd
    • XL Reinsurance America Inc. acquires Global Ag Insurance Services, a provider of crop insurance in the western US
    • XL Group announces increase in share buyback program Board authorizes buyback of up to $1 billion of ordinary shares

    Selected Management Appointments

    • Kelly Lyles, Chief Executive, Global Professional
    • Joseph Tocco, Chief Executive, North America Property and Casualty

    Board of Director Appointments

    • Edward J. Kelly, III, Former Chairman, Citigroup Inc. Institutional Clients Group
    • Anne Stevens, Chairman, Chief Executive Officer and Principal of SA IT Services


    2013

    • XL Group and Stone Point Capital form New Ocean Capital Management Limited, an investment management company focused on insurance-linked securities and (re)insurance capital markets products
    • XL Group plc moves to new offices on St. Stephen’s Green, Dublin
    • CEO Mike McGavick elected chairman of the Geneva Association
    • XL Group launches Fast Fast Forward, a new online platform for commentary, news and tools on risk
    • XL Group creates Asia Pacific region headquartered in Singapore
    • XL Group named Model Insurer of the Year by Celent
    • XL Group opens new insurance office in Manchester, UK
    • XL Group announces expansion of facultative reinsurance footprint in US
    • XL Group creates Global Emerging Markets unit within Reinsurance Operations

    Selected Management Appointments

    • Andrew Pinkes, Global Head of Claims, Insurance Operations
    • Philip Jacobs, Global Head of Capital Management, Corporate Development and Tax


    2012

    • XL Group opens new insurance office in Lyon, France
    • XL Group launches new website
    • XL Group plc announces repayment of $600 million  in XLCFE senior notes
    • XL Group obtains final approval to establish Brazil insurance operation
    • XL announces new $750 million share buyback program

    Selected Management Appointments

    • Chris Dougherty, Chief Financial Officer, Insurance Operations
    • Eileen Whelley, Chief Human Resources Officer
    • Jason Harris, Chief Executive, International Property and Casualty, Insurance Operations


    2011

    • XL Group launches a rebranding, adopting the single brand name XL Group and the Make Your World Go tagline
    • XL Insurance (Bermuda) Ltd and XL Re Ltd qualify for reduced collateral status in New York

    Selected Management Appointments

    • Peter R. Porrino, Chief Financial Officer

    Board of Director Appointments

    • Ramani Ayer, Former Chairman and Chief Executive Officer, The Hartford Financial Services Group, Inc
    • Suzanne B. Labarge, Former Vice Chairman and Chief Risk Officer, Royal Bank of Canada (RBC Financial Group)


    2010

    • XL Group plc (NYSE: XL), formerly XL Capital Ltd, completes name change and redomestication from the Cayman Islands to Ireland
    • XL Group establishes Office of Strategic Growth
    • XL Group announces new $1 billion share buyback program
    • XL Re Ltd becomes first Bermuda company to qualify as an eligible reinsurer in Florida
    • XL Group obtains licenses to establish operations in China.
    • XL Insurance launches global claims management system.

    Selected Management Appointments

    • Irene Esteves, Chief Financial Officer
    • Gregory S. Hendrick, Executive Vice President, Strategic Growth
    • Charles Cooper, President and Chief Underwriting Officer, XL Re Ltd
    • Seraina Maag, Chief Executive Officer, North America Property and Casualty
    • Philippe Rochaix, President and Chief Operating Officer, XL Re Latin America Ltd
    • Patrick Tannock, President of XL Insurance (Bermuda) Ltd


    2009

    • Stock gains 395%, taking the number one spot on the S&P 500 Index
    • XLRe recognized for eCommerce leadership by the Association for Cooperative Operations Research and Development
    • XL receives approval to begin preparing to set up a P&C (non-Life) company in China

    Selected Management Appointments

    • Elizabeth L. Reeves, Executive Vice President and Chief Human Resources Officer
    • W. Myron Hendry, Chief Platform Officer

    Board of Director Appointments

    • Clayton S. Rose, Professor of Management Practice, Harvard Business School
    • Tom Hutton, Managing Partner, Thompson Hutton LLC


    2008

    • XL Capital Ltd announces agreement with Security Capital Assurance on pre-IPO guarantee and reinsurance agreements
    • XL Capital Ltd announces capital raise
    • XL Insurance opens branch office for the Asian region in Singapore
    • XLRe approved to begin operations in Brazil as a local, admitted reinsurer
    • XL Insurance announces formation of Global Product Development Team
    • XL Capital Ltd hosts XL Congress, a global risk conference in Washington, D.C.
    • XL Capital Ltd supports rebuilding efforts in China earthquake disaster

    Selected Management Appointments

    • Michael S. McGavick, Chief Executive Officer
    • David Duclos, Chief Executive Officer, Insurance Operations
    • Celia Brown, Head of Global Human Resources and Corporate Relations
    • Jacob D. Rosengarten, Chief Enterprise Risk Officer


    2007

    • XL Insurance acquires Global Asset Protection Services LLC (XL GAPS), a leading provider of unbundled loss-prevention consulting services
    • XL Insurance opens a regional office in Houston
    • XL sponsors the second China Insurance Industry Executive Leadership Program
    • XL holds its second Global Day of Giving, supporting the communities where XL companies operate
    • XL Insurance enters into an agreement to rename the Hartford Civic Center, Connecticut's premier sports and entertainment venue, the XL Center

    Selected Management Appointments

    • Brian Nocco, Chief Financial Officer
    • Kirstin  Gould, General Counsel

    Board of Director Appointments

    • John M. Vereker, former Governor and Commander-in-Chief, Bermuda


    2006

    • XL commemorates its 20th anniversary with events including XL Congresses in Boston and Berlin and an inaugural Global Day of Giving, dedicated to giving back to the communities where XL companies operate
    • XL Capital Ltd and Banco Itaú Holding Financeira S.A. form a joint venture insurance company in Brazil
    • Security Capital Assurance Ltd (SCA) and XL Group executives mark SCA's IPO at the New York Stock Exchange
    • XL Capital Ltd opens a Representative Office in Beijing following approval by the China Insurance Regulatory Commission
    • XL sponsors the first Sino-foreign executive training and development program for insurance regulators and executives of the People's Republic of China
    • XL Re Europe Limited, a new fully licensed European reinsurance company based in Dublin, is formed

    Selected Management Appointments

    • Sarah E. Street, Chief Investment Officer
    • James H. Veghte, Chief Executive, Reinsurance General Operations
    • Robert Douglas, Chief Executive Officer, XL Re Life
    • Daniel Sussman, Chief Executive, Financial Lines

    Board of Director Appointments

    • Herbert N. Haag, former President and Chief Executive Officer, PartnerRe Ltd
    • Joseph Mauriello, former Deputy Chairman and Chief Operating Officer, KPMG LLP (United States)


    2005

    • XL raises $3.2 billion through the issuance of ordinary shares and equity security units
    • XL Insurance launches a new Excess and Surplus lines unit.
    • XL completes its largest-ever annuity reinsurance transaction in its Life and Annuity reinsurance operations, at $1.8 billion
    • The Fine Art and Specie unit is strengthened, and a new underwriting team is appointed to develop International Aviation business in London
    • XL acquires a minority interest in Artemis Advisors, an investment advisor in New York
    • A new underwriting unit is formed to handle North American Casualty Umbrella and Excess business in London


    2004

    • XL Insurance Company Limited announces the establishment of a branch office in Poland
    • XL Capital Ltd ("XL Group") contributes $100 million additional capital to Financial Guaranty subsidiary
    • XL opens a new London office and partners with London charity Community Links
    • XL launches a whole account commercial property insurance initiative with capacity of $500 million
    • The XL Insurance companies expand Directors and Officers product line across Europe

    Selected Management Appointments

    • Clive Tobin, Chief Executive Officer, Insurance Operations
    • Paul Giordano, Chief Executive Officer, Financial Products and Services Operations

    Board of Director Appointments

    • Eugene M. McQuade, Chief Executive Officer, Citibank, N.A.


    2003

    • XL hosts the first XL Group Congress, “Thought Leadership for a World at Risk," in Switzerland
    • XL America and ICAT partner to underwrite catastrophe risks for small and midsize businesses
    • XL America acquires renewal rights for professional liability policies from Royal & Sun Alliance USA's DPIC unit
    • The XL Winterthur International companies are rebranded as XL Insurance Global Risk
    • Le Mans Re becomes a wholly owned subsidiary and is renamed XL Re Europe
    • XL launches its “One Company Without Borders”' corporate cultural change program


    2002

    • XL becomes the major shareholder of Le Mans Re, holding 67%
    • XL Capital Assurance Inc. establishes AAA rated, London-based financial guarantee subsidiary, XL Capital Assurance (U.K.) Limited
    • XL Winterthur International partners with GE Global Asset Protection Services to offer risk management services
    • ACE Limited and XL Capital Ltd establish joint chair at St. John's University’s School of Risk Management, Insurance and Actuarial Science
    • XL makes strategic investment in Stanfield Capital Partners LLC


    2001

    • XL Financial Assurance Ltd. and XL Group Assurance Inc. receive Aaa financial strength rating from Moody's Investor Services
    • Element Re is named "Company Launch of the Year" by The Review
    • XL Insurance (Bermuda) Ltd completes the purchase of Winterthur International
    • XL Mid Ocean Reinsurance, NAC Reinsurance Corporation and Latin America Reinsurance names are changed to reflect the global branding strategy of XL Group's reinsurance operations
    • Latin America Reinsurance company becomes a wholly owned subsidiary of XL Group and changes its name to XL Re Latin America Ltd

    Board of Director Appointments

    • Dale R. Comey, former Executive Vice President, ITT Corporation


    2000

    • XL Specialty Insurance Company signs an agreement to purchase the US surety operations of CGU Insurance
    • XL Capital Ltd forms Element Re Capital Products Inc for its non-Catastrophe Weather Risk Management products.
    • XL Capital Ltd makes a strategic investment in Agora Capital Management
  • 1999

    • EXEL Limited changes its name to XL Capital Ltd.
    • XL Capital Ltd acquires Intercargo Corporation.
    • XL Capital Ltd acquires environmental insurance 
      specialist ECS, Inc.
    • XL Capital Ltd merges with NAC Re, a US based
      reinsurer.
    • A joint venture between XL Capital Ltd and Les Mutuelles
      Du Mans Assurances forms Le Mans Re in France.
    • XL Capital Ltd sells Mid Ocean's two motor books,
      Admiral and Zenith.

    1998

    • EXEL Limited merges with Mid Ocean Limited.
    • The ownership of Lloyd’s operation Brockbank,
      which Mid Ocean purchased in 1996, is transferred to
      XL Capital Ltd with the Mid Ocean acquisition.
    • XL Capital Ltd acquires minority stake in Annuity &
      Life Re (Holdings) Ltd.
    • XL Capital Ltd forms a joint venture with Financial
      Security Assurance.
    • XL acquires Folksamerica General Insurance Company
      and renames it X.L. Insurance Company of America, Inc.

    1997

    • XL raises $3.2 billion through the issuance of ordinary
      shares and equity security units.
    • EXEL Limited acquires GCR Holdings.
    • EXEL Limited invests in 75% of Latin America
      Reinsurance Ltd.
    • Sovereign Risk Insurance Ltd is formed as a (50%-50%)
      joint venture between XL Insurance (Bermuda) and ACE Ltd.

    1996


    • EXEL acquires a minority stake in Pareto Partners.

    1995

    • XL Capital Ltd invests $70 million in Risk Capital Re.
    • XL Re Limited capitalizes at $250 million.
    • XL Insurance (Bermuda) Ltd receives A.M.Best 
      rating of A (Excellent).
    • XL Insurance (Bermuda) Ltd receives S&P rating
      of AA.
    • Shareholder's equity exceeds $2 billion.
    Board of Director Appointments:
    • Ellen E. Thrower, Professor, School of Risk Management,
      Insurance and Actuarial Science at St. John's University’s
      Tobin College of Business.

    1994

    • Brian O'Hara is appointed  the group’s  third Chief
      Executive Officer.

    1993

    • XL Capital Ltd invests $73 million in Mid Ocean
      Reinsurance's IPO.
    • Annual GWP for XL Insurance (Bermuda) Ltd and
      XL Europe (Ltd) exceeds $500 million.

    1992

    • Second public offering of XL stock at a price
      of $32.50.
    • XL invests $100 million in Mid Ocean Reinsurance Ltd,
      a Property Catastrophe reinsurer.

    1991


    • XL's ordinary shares are listed for the first time on the
      New York Stock Exchange (NYSE) under the ticker
      symbol XL.
    • Initial Public Offering of 24.7 million shares at a listing
      price of $25.50.
    • Net income reaches $267 million.

    1990

    • EXEL Limited and XL Insurance (Bermuda) Ltd are
      domiciled in Bermuda.
    • XL Europe Insurance Company opens in Dublin.

  • 1989

    • XL Insurance (Bermuda) Limited receives its
      200th submission.
    • Mike Kevany is elected the second Chief Executive
      Officer of EXEL and XL Insurance.

    1988

    • XL Insurance (Bermuda) Ltd introduces Errors and
      Omissions insurance.
    • EXEL Limited adopts a mission statement detailing
      its strengths: Capacity, Stability, Risk Absorption and
      Financial Security.

    1987

    • Barbados/Bermuda officers are announced.
    • Ian Heap is appointed the first Chief Executive Officer.

    1986

    • A group of 68 Fortune 500 companies forms EXEL Limited
      Incorporated in the Cayman Islands.
    • XL Insurance (Bermuda) Ltd
      (formerly X.L. Insurance Company Ltd)
      incorporates in Barbados with GWP exceeding $206 million.

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