After a lengthy process, XL Capital Assurance's subsidiary XL Capital Assurance UK is making headway as a contender for the growing interest in monoline sureties within the European capital markets.

"XLCA UK offers European ABS and structuredcredit investors significant fresh capacity to their monoline portfolio and credit enhancement on their bond investments of the highest quality," said Michael Rego, managing director and chief operating officer at the UK-based monoline. "Our innovative capital structure uniquely provides investors with two-tiered financial strength - we have both the triple-A ratings of the financial guaranty platform, as well as the support of a strategically committed double-A -rated parent company. We feel that our credit story is as strong as any company in the industry and are confident that European investors will appreciate this story."

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