XL Insurance Company Limited today announced that it has been granted a license from the Malaysian Federal Territory of Labuan to underwrite business in and through the Labuan insurance market.
The licence will enable XL Insurance to better serve its customers in the areas of property, construction, energy, casualty, specialty, and professional lines insurance.
Mr. Gernot Klantschnig, XL Insurance’s Regional Operating Officer for Continental Europe, Asia & Latin America, commented: “The Labuan license marks an important step in our expansion in Asia. Our expert underwriters in the region are well placed to drive the effort to expand our business in this important Asian market.”
Mr. Andrew Vigar, Regional Manager for XL Insurance in Asia and Principal Officer of the Labuan Branch, commented: “With one of the fastest growing economies in Asia, Malaysia provides significant opportunities for XL Insurance to support clients with our wide range of products. We see particular demand for our expertise in Directors & Officers and Professional Indemnity.”
Source : XL Insurance Press Release
