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XL Renames U.S. Unit

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A Caribbean reinsurer is trying to ramp up efforts to market a newly acquired subsidiary that will sell individual life reinsurance in the United States.

XL Re Life, the life reinsurance arm of XL Capital Ltd., Hamilton, Bermuda, says it has changed the name of Servus Life Insurance Company, a company acquired in March from Hartford Financial Services Group Inc., Hartford, to XL Re Life America Inc.

XL Re also has moved the domicile of the unit to Delaware, from Connecticut, and hired a pair of executives.

Robert Gandjean will be the unit’s pricing actuary, and Joseph Re will be an appointed actuary for the unit, according to XL Re.

The operating offices of the unit are in Stamford, Conn.

XL Re changed the name of the unit to emphasize that it is part of the XL Re family, executives say.

The unit will offer individual life reinsurance and reinsure in-force portfolios on a yearly renewable term, XL Re says.

The unit is interested mainly in insurers serving the traditional life and corporate-owned life markets, XL Re says.