XL to cut workforce by 10% as losses spiral; shares up 40%
Bermudian reinsurer XL has said that it will be looking to cut its worldwide workforce by 10% in an effort to cope with the world economic downturn.
The last available number given at the end of 2007 was 4000 employees - although XL have made reductions to headcount since.
XL said that most of the cuts will come from the corporate and functional
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
Claims and Legal Forecast of 2026
The claims and legal sectors stand on the cusp of transformation as we hurtle towards 2026, facing policy reform, accelerating innovation and rising customer expectations in the year ahead.
Why Which?’s super-complaint is a turning point for insurance
Rocio Concha, director of policy and advocacy at Which?, explains why the Financial Conduct Authority’s agreement with its super-complaint marks a critical moment for home and travel insurance, and why swift regulatory action is now essential to improve consumer outcomes.
JLR breach sparks debate on insurance gaps and state support
Joel Leigh, partner at law firm Howard Kennedy, examines how the £2bn Jaguar Land Rover breach triggered government intervention, supply-chain strain and potential disputes that underline the need for robust cyber cover.
How Covid-19 litigation has shifted BI policy wording
Joanna Grant, managing partner of Fenchurch Law, explores how business interruption insurance has evolved five years on from the pandemic, and whether the lessons of Covid-19 are being properly applied today.
Insurance Post’s star-studded Christmas Special for 2025
The award-winning Insurance Post Podcast has signed off the year with a Christmas Special featuring industry heavyweights, newsroom favourites and even a CBeebies-style bedtime story.
FCA partly rebuffs Which? but widens insurance crackdown
The Financial Conduct Authority has pushed back against parts of Which?’s super complaint about home and travel insurance, but accepted there are clear weaknesses in the market that require further regulatory action.
False Lego claim dismantled brick-by-brick
A man has been jailed for 28 months following an investigation by the Insurance Fraud Enforcement Department into several fraudulent insurance claims, including false reports of stolen Lego sets.
Potholes put councils on legal front line over road repairs
As pothole-related injury and damage claims increase, Georgia Milton, paralegal at DWF, warns councils and insurers must navigate complex legal duties, evidential hurdles and financial risks in proving when liability begins.