Endurance Re Acquires Some XL Re Business
NU Online News Service, Oct. 1, 4:07 p.m. EDT?Endurance Reinsurance Corp. of America, U.S. subsidiary of Bermuda-based Endurance Specialty Holdings Ltd., will acquire the majority of XL Re America's surety reinsurance business, the company said.[@@]
The acquisition is on a prospective basis through a renewal rights purchase agreement, and Endurance Re will pay XL Re America a commission on the surety reinsurance business renewed by Endurance Re.
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