XL Re, the global reinsurance operations of XL Capital Ltd., yesterday announced it has received three awards from the Association for Cooperative Operations Research and Development (ACORD), a global, non-profit standards development organisation which serves the insurance industry and related financial services industries.

At ACORD's recent 16th annual awards ceremony in Florida, XL Re for the fifth consecutive year was recognised as an insurance industry leader for the innovative application of eCommerce technology and standards focused on enhancing client service and improving operating efficiency. XL Re was awarded the Innovative Implementation Award and the International Implementation Award for XL Re's global eCommerce capabilities.

ACORD also recognised XL Re for its Leadership in ACORD Standards Strategy and Governance for XL Re's commitment and approach to the implementation of RLC (Reinsurance and Large Commercial Lines) standards.

James Veghte, Chief Executive of XL Re, said: "The more we move towards standardised business processes globally using common systems and leveraging eCommerce where markets provide it, the more efficient we become and the more benefit we can provide to clients and our shareholders."