XL Re becomes first Bermudan reinsurer to qualify as eligible in Florida
XL Re, the global reinsurance operations of XL Capital has announced that it has received approval from the Florida Office of Insurance Regulation (FIR) to qualify as an “Eligible Reinsurer” in Florida, pursuant to requirements set forth by the Florida Insurance Code.
XL Re is the first Bermudan reinsurer to receive such approval since Florida passed a rule based on 2007 legislation allowing the FIR to establish lower collateral requirements for foreign reinsurers
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