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Article: XL Capital Ltd Completes Purchase of Le Mans Re and Announces Name Change to XL Re Europe.
- Article from:
- PR Newswire
- Article date:
- September 3, 2003
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XL Capital Ltd ("XL" or "the Company"), through one of its wholly- owned subsidiaries, said today that it has completed its previously announced intention to purchase the remaining 33% of Le Mans Re held by Les Mutuelles du Mans Assurances Group ("MMA"). Le Mans Re was formed as a joint venture in 1999 between XL and MMA. XL increased its shareholding in Le Mans Re from 49% to 67% in 2002.
As a result of the acquisition, Le Mans Re's name has been changed to 'XL Re Europe' aligning under the 'XL Re' brand used by the Company's global reinsurance operations.
Chief Executive of XL's Reinsurance Operations, Mr. Henry C.V. Keeling, said: "Having XL Re ...