EXEL Ltd., has been listed with the US's National Association of Insurance Commissioners (NAIC) as an excess and surplus lines insurer, EXEL said Friday.

"This approval gives us the opportunity to provide our products to a wider market and is a logical extension of our position as one of the world's leading excess insurers,'' EXEL president and CEO Brian O'Hara said.

X.L. Europe managing director Patrick Tolan said the move will allow X.L.

Europe to be "more responsive to its customers'' and broaden the group's distribution capabilities.

NAIC is the membership organisation of state insurance commissioners. It promotes uniformity of state regulation and legislation in the insurance industry.

A surplus lines carrier provides insurance coverage not available from an "admitted'' company in the regular market. A surplus lines broker/agent representing an applicant seeks coverage in a surplus lines market from a "non-admitted'' insurer. Excess surplus lines are specialised property or liability coverage provided by a non-admitted carrier.

EXEL, through X.L. Insurance Company Ltd., X.L. Europe and X.L. Reinsurance Company, Ltd., is a leading provider of general liability, directors and officers liability (D&O), employment practices and professional liability, excess property insurance and reinsurance to industrial, commercial and professional service firms.

Separately, EXEL said subsidiary X.L. Insurance completed the previously announced agreement to acquire Railroad Association Insurance Ltd.'s (RAIL) outstanding shares.