XL Insurance has received a license from the Malaysian Federal Territory of Labuan to underwrite business in and through the Labuan insurance market.
The licence will enable XL Insurance to serve its customers in the areas of property, construction, energy, casualty, specialty, and professional lines insurance.
XL Insurance regional operating officer for Continental Europe, Asia & Latin America, said, the Labuan license marks an important step in the expansion plan in Asia.
XL Insurance regional manager for Asia and principal officer of the Labuan Branch Andrew Vigar said, with one of the fastest growing economies in Asia, Malaysia provides significant opportunities for XL Insurance to support clients with wide range of products. We see particular demand for expertise in directors & officers and professional indemnity.