XL Insurance Reviewed
XL Insurance is a leading insurance provider in South Africa that is a part of the global Group known as XL Group plc. The XL Group, while being an international entity, is headquartered in Ireland. The XL Group is primarily a global insurance and reinsurance provider that mainly works through its wholly owned subsidiaries such as XL Insurance South Africa.
The XL Group boasts of around 60 offices that are spread across 20 countries in the world. The company employs around 4, 000 employees on a global scale. The most recent estimates put the company’s consolidated assets at around 45.1 billion America dollars.
In South Africa, XL Insurance mainly focuses on providing innovative insurance products that deal with simple as well as complex situations. The company is also known for its centralised data management abilities and a claims network that is trusted throughout the country. The company provides four different types of insurance products in the country. Here is a list.
1. Property insurance products:
There are various property insurance products that the company provides to the South African market and these include products relevant to industries such as construction, mining, oil and gas and power generation. In addition to this, there are also products catering to contingencies such as equipment breakdown, excess and surplus, risk transfer and management.
2. Casualty insurance products:
There is also a wide range of casualty insurance offerings from XL Insurance such as excess & surplus, auto products recall, healthcare liability, liability, construction, life science industry solutions, contamination insurance and risk management.
3. Professional insurance products:
Professional insurance offerings from XL Insurance target professional sectors such as accountants, architects, lawyers, real estate professionals, engineers and professional designers. The policies mainly deal with errors and omissions.
4. Specialty insurance products:
The range that XL Insurance possesses in terms of its specialty insurance products is truly diverse. It has products that range from catering to aerospace companies to companies dealing in horses.
XL Groups is a company that has a large global footprint and the Group’s stability is drawn upon by XL Insurance within South Africa for its operations.