XL Capital strikes deal with SCA
Bermudian (re)insurer XL Capital said that it has come to an agreement with bond insurer Security Capital Assurance which will eliminate $64.7bn of its net exposure to the company.
In the deal – which will see XL pay SCA $1.775bn in cash – XL will terminate its relationship with a number of reinsurance agreements and indemnification and services agreements.
XL said that it will
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