XL Capital Ltd said that, contrary to some reports it is not a party to a lawsuit filed by Merrill Lynch International against bond insurer Security Capital Assurance Ltd's (SCA) subsidiary, XL Capital Assurance Inc. (XLCA).
The company stated that it owns approximately 46 percent of the common equity interest in SCA, but XLCA is not a subsidiary of XL.
XL added that a transition agreement entered into by XL and SCA permits SCA to use the "XL" name until August 2008.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
