XL details $300m Shariah compliant offering

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The provider noted that it will initially focus on property cover, with a maximum capacity of up to $300m [£193.1m].

It will target markets world-wide, with the exception of the U.S. and Canada, and has established a binder relationship with Cobalt to provide Shariah compliant commercial insurance and reinsurance products.

XL highlighted that it had assigned a team of underwriters to focus on these specific covers.

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Jason Harris, chief executive international P&C insurance for XL Group

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