XL Insurance has opened a New York office to write fine art & specie.

The operation will form an extension of the practice headed by Neil Robertson in London.

Underwriting at the New York office has already commenced.

Neil Robertson said: "The US contributes a sizeable percentage of the world's fine art & specie income, with the greatest concentration being in New York.

"We now have the infrastructure to expand into this market and we can offer both domestic admitted paper (XL Specialty Insurance Company, rated A+ (Superior) XV by A.M. Best and AA (Very Strong) by Standard and Poor's) and surplus lines (via XL London Market at Lloyd's).

"The introduction of the New York office will benefit our clients, allowing us to co-ordinate risk evaluation, policy distribution, claims servicing and overall customer service through an on-site US resource."

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