XL has no need to seek additional capital at this time: CEO
XL's chief executive Michael McGavick has again sought to scotch rumours that the beleagured Bermudian (re)insurer may be on the brink of collapse.
"As we indicated yesterday, XL has no need or intent to seek additional capital at this time," McGavick said in a statement.He added that ratings agency AM Best - unlike Best's rival agency
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Geopolitical instability and trade policy risk rocking marine insurance
Escalating geopolitical tensions, from conflict-driven shipping attacks and vessel detentions to sanctions, tariffs and the growth of shadow fleets, are reshaping global trade routes. Against this backdrop, Tim Evershed observes significantly heightened risk exposures for the marine insurance market.
Property claims cost insurers a record £6.1bn in 2025
Insurers paid out a record £6.1bn in property claims in 2025, according to the Association of British Insurers’ latest data.
60 Seconds With... M2 Recovery’s Matt Green
Matt Green, non-executive director at crypto recovery firm M2 Recovery, talks lost digital money, landmark cases, and sending his first paycheck to a Kenyan school.
Why 70% of UK properties remain underinsured
Seven out of 10 UK properties remain underinsured, according to RebuildCostAssessment.com latest data, leaving owners exposed to increasing rebuild costs.
Enter Best Insurance Employer 2026 today
If you work for one of the greatest employers in the insurance industry and want to shout about it, make sure you complete Insurance Post’s Best Insurance Employer survey today.
Insurers argue furlough deductions permitted by policy wordings
Insurers finished their submissions to the Supreme Court on the issue of whether or not furlough payments are deductible from Covid-era business interruption claims payouts this morning (12 February), hitting back at arguments advanced yesterday by policyholders.
Supreme Court hears arguments on Covid claim furlough deductions
The Supreme Court heard arguments from both policyholders and insurers yesterday (11 February) as to whether furlough payments are deductible from Covid-era business interruption claims payouts.
Why alignment with suppliers is key to good customer outcomes
View from the Top: Jeremy Trott, claims director at Ecclesiastical, says insurers must ensure they have an ‘alignment of ethos’ with their suppliers to ensure good outcomes for customers.