XL America has signed a lease to acquire 38,000 square feet of office space at Hartford's 100 Constitution Plaza, which the Company plans to occupy in September 2004.
According to Mr. Anthony Giacco of XL's Professional Lines Insurance team, "Hartford has a strong extended history as an insurance business center. Today, the city and its surrounding region continues to grow offering us convenient access to an educated workforce, affordable office space and a central location between major business and financial centers such as New York and Boston.
Mr. Giacco said: "At XL America, we look forward to expanding and centralizing our operations in 100 Constitution Plaza and becoming one of Hartford's resident global insurance leaders."
The building, which provides space for expansion, will house some of XL America's reinsurance and insurance teams as well as key support personnel. In addition to the Hartford office, XL Capital Ltd and its subsidiaries have approximately 90 offices in 30 countries.
XL America, which will occupy the top four floors of 100 Constitution Plaza, will have prominent signage on the building visible from Highways I-91 and I-84.
Mr. Dan S. Matos, principal of Connecticut Operations for Capital Properties, owners of 100 Constitution Plaza, said: "We are very excited to have a high quality tenant such as XL America, a growing player in the insurance industry worldwide. XL America, in addition to our other tenants, is vital to the rejuvenation of the Plaza and the ongoing development of downtown Hartford."
About 100 Constitution Plaza
Owned by Capital Properties, 100 Constitution Plaza is a 220,000 square foot, class A office building located on the corner of Market and Kinsley Streets. It is currently undergoing a complete renovation that will reorient the entrance of the building to Market Street, opposite the new Sage Allen residential project and the soon to be reopened Temple Street, which will reconnect Main Street to Market Street.
About XL America, Inc.
XL America, Inc. is the holding company for all of the U.S. operations of XL Capital Ltd (NYSE:XL). XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of March 31, 2004, XL Capital Ltd had consolidated assets of approximately $44.2 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.