XL Capital Ltd. in Bermuda announced today that it plans a U.S. initial public offering for a new entity encompassing company segments providing financial guaranty insurance and reinsurance.
The company said a registration statement with the U.S. Securities and Exchange Commission has been filed for a portion of Security Capital Assurance Ltd (SCA) shares.
SCA is a newly-created holding company for XL's financial guaranty insurance and reinsurance businesses conducted through XL Capital Assurance Inc. (XLCA) and XL Financial Assurance Ltd. (XLFA).
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