Navigation Links
XL Capital Ltd Issues Statement Regarding Merrill Lynch Lawsuit Against XL Capital Assurance Inc. (XLCA) a Subsidiary of Security Capital Assurance Ltd
Date:6/10/2008

HAMILTON, Bermuda, June 10 /PRNewswire-FirstCall/ -- XL Capital Ltd (NYSE: XL) (the "Company") announced today that it is not involved in a summary judgment handed down by the U.S. District Court for the Southern District of New York in favor of Merrill Lynch International. Merrill Lynch International filed a complaint against Security Capital Assurance Ltd's (NYSE: SCA) subsidiary, XL Capital Assurance Inc. (XLCA), relating to certain credit default swap transactions entered into by trusts and insured by XLCA following SCA's IPO in August 2006. XLCA is not a subsidiary of XL Capital Ltd.

The swaps at issue in the lawsuit were entered into by XLCA after SCA's IPO. XL Insurance (Bermuda) Ltd's reinsurance guarantee to a subsidiary of SCA applies only to pre-IPO exposures.

Pursuant to a transition agreement entered into at the time of SCA's IPO, SCA is permitted to use the "XL" name until August 2008. XL owns approximately 46% of the common equity interest of SCA. As the above dispute is between Merrill Lynch International and XLCA, any queries regarding the lawsuit should be referred directly to the parties involved in the lawsuit.

Further information regarding XL's relationship with SCA may be found in XL's filings with the Securities and Exchange Commission.

XL Capital Ltd, through its operating subsidiaries, is a leading provider of global insurance and reinsurance coverages to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of March 31, 2008, XL Capital Ltd had consolidated assets of $54.8 billion and consolidated shareholders' equity of $9.3 billion. More information about XL Capital Ltd is available at http://www.xlcapital.com.


'/>"/>
SOURCE XL Capital Ltd
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Princeton HealthCare System Foundation Launches $115 Million Capital Campaign for New Hospital in New Jersey
2. 19th Annual Susan G. Komen National Race for the Cure(R) Draws Nearly 50,000 Participants, Celebrities; Brings Record Funds to National Capital Area
3. Susan G. Komen for the Cure(R) Celebrity Ambassadors to Convene in Nations Capital to Help Race for the Cure, End Breast Cancer Forever
4. The Ensign Group to Present at the FBR Capital Markets 12th Annual Spring Investor Conference on May 29th
5. AMN Healthcare Services to Present at the BMO Capital Markets 2008 Healthcare Staffing Forum
6. Childrens Hospital Campus to be Renamed Thanks to Transformational Capital Gift
7. VNUS Medical Technologies to Present at FBR Capital Markets 12th Annual Spring Investor Conference
8. Vanda Pharmaceuticals to Present at the FBR Capital Markets 12th Annual Spring Investor Conference
9. Capital BlueCross Goes National for Health
10. Emerging Capital Partners Invests $47.3 Million in North African Personal Care Company
11. Phyhealth Enters Agreement with Merrill Lynch to Manage Capital Surplus Funds for Phyhealth Pilot HMO
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/17/2017)... , ... August 17, 2017 , ... ... (ER) on Wednesday, August 16, to community partners. The newly renovated ER was ... Track” area for minor emergencies, eight semi-private rooms to deliver patient results, improve ...
(Date:8/17/2017)... (PRWEB) , ... August 17, 2017 , ... ... Injury: The Journey to Healing Through Forgiveness ($15.99, paperback, 9781498497626; $7.99, eBook, ... trauma, to encourage inner healing of memories and achieve forgiveness, through a progressive ...
(Date:8/17/2017)... ... ... digital marketing for medical practices, has been recognized as one of the fastest growing privately ... second time in two years. Shawn Miele, Chief Executive Officer of Advice Media, said, “We ... a row. It’s extremely difficult to make this list once. The fact that we made ...
(Date:8/16/2017)... ... ... Summer days spent with family are priceless. Since August is Family Fun ... the season of sunshine. Add trying something new to this summer’s bucket list. Whether ... the fun. , Try Something New , Choose an activity the ...
(Date:8/16/2017)... , ... August 16, 2017 , ... Ten outstanding teachers ... Stars in the Classroom and will win a visit by a Houston Texans player, ... who are at least five years old can visit texanschecking.com/stars to nominate their favorite ...
Breaking Medicine News(10 mins):
(Date:7/27/2017)... July 27, 2017  Zimmer Biomet Holdings, Inc. (NYSE ... ended June 30, 2017.  The Company reported second quarter ... over the prior year period, and an increase of ... basis points of contribution from the LDR Holding Corporation ... second quarter of 2016, or 0.3% on a constant ...
(Date:7/26/2017)... Aesthetics, a leading medical aesthetic clinic in Singapore ... skin conditions from the inside. The natural process of ... skin becomes more transparent due to the thinning of the epidermis. Over ... the sun contributes to aging skin, causing age spots and other ... ...
(Date:7/25/2017)... Spain and CAMBRIDGE, Massachusetts , ... Biotech, specializing in repurposing drugs to treat rare nervous system ... Inc. to clinically develop and market the drug SOM0226 against ... the drug achieved very promising results in a Phase 2 ... A new office in the United States ...
Breaking Medicine Technology: