XL Catlin launches operational risk solution
Wednesday, 07 08 2015, Category: Insurance and Reinsurance, Country: World
XL Catlin has launched an insurance solution aimed at helping financial institutions implement capital structures to fully support their business needs.
The newly merged company said this is in response to increased regulatory and financial pressures on financial institutions around the world, forcing them to change the way they assess and manage their operational risks.
As well as addressing significant operational risk exposures, the insurance may also act as an instrument to boost regulatory capital and offset economic capital requirements, said XL Catlin.
Gerard Bloom, chief underwriter officer financial institutions, said: “Our financial institutions clients tell us that they need the insurance market to find innovative solutions for their operational risks and capital management.
“Our depth of expertise in both operational risk and financial lines underwriting combined with significant capacity means we can help them with even the most substantial risks”.