Exchange today.

The BSX confirmed on Friday that the company had been granted a secondary listing.

EXEL, a leading provider of property and liability insurance to the world's largest companies through its subsidiaries XL Insurance, XL Europe and XL Reinsurance, has a market capitalisation of $3 billion and has its primary listing on the New York Stock Exchange.

"This listing is a further demonstration of EXEL's commitment to Bermuda and its growth as an investment centre,'' EXEL chairman Brian O'Hara said in a statement.

BSX chief executive officer William Woods said: "We are pleased that EXEL is joining the Bermuda Stock Exchange.

"The support we get from the international business community is a key ingredient in enabling the BSX to become the world's first truly international, electronic, offshore securities market.'' EXEL joins insurers ACE Ltd. and Mutual Risk Management with secondary listings on the Exchange. Bermuda-based Asian trading group Jardine Matheson also has its major subsidiaries listed.

The secondary listing was sponsored by Bermuda International Securities Ltd., a subsidiary of the Bank of Bermuda.