XL details $300m Shariah compliant offering
XL Group is to offer Shariah compliant insurance cover to large corporate and middle market clients.
The provider noted that it will initially focus on property cover, with a maximum capacity of up to $300m [£193.1m].
It will target markets world-wide, with the exception of the U.S. and Canada, and has established a binder relationship with Cobalt to provide Shariah compliant commercial insurance and reinsurance products.
XL highlighted that it had assigned a team of underwriters to focus on these specific covers.
First
Jason Harris, chief executive international P&C insurance for XL Group
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