XL Capital Files for IPO to Finance Startup

XL Capital Ltd. has filed with the U.S. Securities and Exchange Commission for an initial public offering to finance a startup entity handling financial guaranty insurance and reinsurance businesses. The parent company said that its newly created Security Capital Assurance Ltd (SCA) has filed a registration statement for the initial public offering (IPO). XL Capital Assurance Inc. (XLCA) and XL Financial Assurance Ltd. (XLFA) operate under SCA. Under the registration statement, a portion of SCA's shares will be issued and sold by SCA and a portion will be sold by SCA's parent, XL Insurance...