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XL Re Takes Advantage Of Fla. Reduced Collateral Rule

The Florida Office of Insurance Regulation (OIR) said it has reached an agreement with a second reinsurer to participate in the state's market under modified regulatory terms.

By Chad Hemenway | Updated on June 16, 2010

NU Online News Service, June 17, 3:40 p.m. EDT

The Florida Office of Insurance Regulation (OIR) said it has reached an agreement with a second reinsurer to participate in the state’s market under modified regulatory terms.

XL Re Ltd. is the first reinsurance company from Bermuda to operate in Florida without having to put up 100 percent collateral, said the OIR.

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