XL Capital Ltd announced today that it has received approval for a new fully licensed European reinsurance company--XL Re Europe Ltd.--based in Dublin, with $1.5 billion of capital and surplus.
Bermuda-based XL said David Watson, previously XL Re Ltd's general manager in London, has relocated to Dublin to become president and chief executive officer of the new company.
XL on Aug. 1 announced it would develop the new operation, which will serve as the firm's European reinsurance platform.
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