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XL Catlin enhances global property insurance capacity

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XL Group Ltd., which does business as XL Catlin, on Wednesday said it has extended its global property insurance capacity 25% to $500 million, available on a quota share or layered basis.

XL Catlin offers capacity up to $1 billion for clients who purchase 100% of their property insurance through XL Catlin’s Platinum Property program, the insurer said in a statement.

“In the U.S. and Canada, increasing property values, more investment activity in industrial and commercial property, and added concern about natural catastrophe exposures are prompting our clients to seek more insurance protection,” Michele Sansone, president of XL Catlin’s North America property business, said in the statement.  “Our new limit allows us to readily address our clients’ requests for higher limits."