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:2/8/2016)... (PRWEB) , ... February 08, 2016 , ... Steve Helwig ... with a vital new community enrichment program, has teamed up with Citizens Opposed to ... children suffering from intimate abuse. To support all those victimized by the fear of ...
(Date:2/8/2016)... ... , ... Delta Dental of California and its affiliated companies announced today that ... who recently retired as president and CEO of Delta Dental of California and its ... Year , helped lead the effort to raise funds for studies to strengthen pancreatic ...
(Date:2/8/2016)... ... February 08, 2016 , ... Eating disorders and post-traumatic stress ... women and men with eating disorders report a history of trauma, research suggests ... of an eating disorder. , At the 2016 iaedp Symposium, the workshop, ...
(Date:2/8/2016)... ... 08, 2016 , ... GrassrootsHealth published data from its D*action ... diabetes in the GrassrootsHealth cohort with substantially higher vitamin D levels than a ... health,” states Carole Baggerly, Director of GrassrootsHealth, “the safety and benefits of ...
(Date:2/8/2016)... Vegas, Nevada (PRWEB) , ... February 08, 2016 ... ... at RowdMap, Inc., will be speaking on how healthcare companies can use newly ... costs, manage the health of a population and intervene and capture the value ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... 8. Februar 2016  LivaNova, PLC, Hersteller ... Infografik mit dem Titel „Epilepsy Around the ... der der Krankheit gegenüber ein größeres Bewusstsein ... soll, Medikamentenresistenz bei Epilepsie auf dem Internationalen ... zu machen. Mithilfe der neuen Infografik sollen ...
(Date:2/5/2016)... Va. , Feb. 5, 2016  ivWatch, a medical ... Virginia Outstanding STEM Award granted by Governor Terry McAuliffe,s ... Science Innovation on February 25th at an event to be ... . The STEM award honors professionals and business that have ... Logo - http://photos.prnewswire.com/prnh/20160205/330117LOGO ...
(Date:2/5/2016)... Aethlon Medical, Inc. (Nasdaq: AEMD ), today ... be presenting at Source Capital Group,s 2016 Disruptive Growth & ... at 2:15 p.m. ET on Wednesday, February 10, 2016.  Mr. ... place at 3:15 p.m. ET. http://www.aethlonmedical.com .  The ... the conclusion of the live event. The panel discussion will ...
Breaking Medicine Technology: