XL Capital Ltd said that, contrary to some reports it is not a party to a lawsuit filed by Merrill Lynch International against bond insurer Security Capital Assurance Ltd's (SCA) subsidiary, XL Capital Assurance Inc. (XLCA).
The company stated that it owns approximately 46 percent of the common equity interest in SCA, but XLCA is not a subsidiary of XL.
XL added that a transition agreement entered into by XL and SCA permits SCA to use the "XL" name until August 2008.
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