XL Group anticipates increased regulatory oversight after Catlin dealPosted On: Feb. 27, 2015 12:00 AM CST
Ireland-based XL Group P.L.C. said that it expects increased oversight from regulators globally after its proposed acquisition of Bermuda's Catlin Group Ltd., reports Bloomberg.
"Following the completion of the proposed acquisition of Catlin, we believe that we would meet the criteria to be designated" an internationally active insurance group, the company said in its annual filing with U.S. Securities and Exchange Commission. XL Group "may become subject to a proposed international capital standard and enhanced regulatory supervision" if the insurer gets the IAIG label after the deal, added the insurer.