XL Capital Ltd. yesterday announced that it plans to integrate its reinsurance operations following the ratification in January this year of XL's acquisition of a 67 percent majority shareholding in Le Mans Re, a joint venture reinsurer formed by XL and MMA in 1999.

The proposed integration, intended to streamline XL's reinsurance operations, is subject to certain conditions, including the receipt of regulatory and other approvals.

Le Mans Re and XL Re Ltd. propose to merge their branches in Singapore. They also plan to close the Le Mans Re underwriting operation in Miami and merge Le Mans Re's continuing Miami-based business with XL Re Latin America Ltd's operations.

Henry Keeling, chief executive of Reinsurance Operations for XL Capital Ltd, said: "Le Mans Re has become the primary vehicle for the expansion of XL Re's position in continental Europe. Therefore, we believe that XL needs to dedicate as much of Le Mans Re's professional resources, energy and expert management time to implementing our strategy in this large and very important market."

He added: "The goal behind the proposal to merge the Singapore branches is to create an operation that will act as a regional hub for the development of XL Re Ltd's business in Asia and Australia."