XL formally begins operations: strategy unknown

It is expected that the firm will sign its first deals later this year. "On April 21 2004, the Insurance Supervisory Commission issued a permit to the headquarters of XL Insurance located in London," confirmed Elżbieta Wanat-Połeć from UKNUiFE. In order to operate, the firm would have to pay some EUR 3 million, to UKNUiFE as a form of minimum guarantee fund. The firm will be presided over by Mariusz Ejsmont who decline to reveal the strategy his enterprise. XL Insurance has been operating in Poland indirectly for a few years through insurance company TU Winterthur. (Parkiet, p. 10) M.M.