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Reinsurance News

XL Catlin

XL Group names Leila Madeiros as Head of Compliance & Regulatory Affairs, Bermuda

16th January 2018

XL Group has announced the appointment of Leila Madeiros as Head of Compliance & Regulatory Affairs, Bermuda, she joins from a role as Senior Vice President, Deputy Director and Corporate Secretary of the Association of Bermuda Insurers and Reinsurers (ABIR). Madeiros joins in April and reports to Sean McGovern, XL Group’s Chief ... Read the full article

XL Catlin appoints Simon Price to Head of M&As for EMEA

10th January 2018

XL Catlin has appointed Simon Price, who joins from Marsh’s Private Equity and M&A practice, to Head of Mergers and Acquisitions Insurance for Europe, the Middle East and Africa (EMEA). In his London-based role, Price will oversee XL Catlin's EMEA business and all international business placed through the London market. Commenting, Brian Benjamin, ... Read the full article

XL Catlin eyes sustainable & profitable growth in India

4th January 2018

According to industry reports, reinsurer XL Catlin is eager to expand its India operations but will not grow for the sake of having a large balance-sheet, as it eyes profitable and sustainable growth in the region. An article on Business Standard citing a discussion between Charles Cooper, Chief Executive Officer (CEO) ... Read the full article

XL appoints Norton as Group Chief Enterprise Risk Officer, succeeding Rosengarten

4th January 2018

XL Group Ltd., the parent company to the XL Catlin insurance and reinsurance brand, has promoted Fielding Norton to the role of Group Chief Enterprise Risk Officer, to succeed Jacob Rosengarten who retired at the end of December. Fielding Norton was previously in the role of Deputy Chief Enterprise Risk Officer and subject ... Read the full article

XL Catlin promotes Jay Lefkowitz to lead U.S. Global Risk Management unit

15th December 2017

Insurer and reinsurer XL Catlin has promoted Jay Lefkowitz from his role as head of U.S. Risk Management team to President of its Global Risk Management business in North America. In his New York based role Lefkowitz will assume underwriting management of XL Catlin’s North America primary casualty platform including its ... Read the full article

Expectation of more realistic and sustainable rates “totally reasonable” says XL Catlin’s Hendrick

28th November 2017

Greg Hendrick, President of insurer and reinsurer XL Catlin's Property & Casualty (P&C) division, in a note on the re/insurance industry in light of third-quarter catastrophe events, has reiterated the company's expectation of rate improvements at the upcoming renewals and anticipates change to evolve positively over time. After expected catastrophe losses ... Read the full article

XL Catlin appoints new Country Manager for German insurance business

23rd November 2017

Global insurer and reinsurer, XL Catlin, has named Dr. Thomas Gotting as Country Manager Germany, Insurance, effective January 1st, 2018. Gotting replaces Dieter Goebbels who is to retire at the start of 2018, and will be based in Cologne reporting to Kelly Lyles, Chief Executive Client & Country Management at XL Catlin. He ... Read the full article

Market turn evident after “dramatic & different” hurricane season: XL execs

25th October 2017

The dynamics of the global insurance and reinsurance market, combined with the devastating impacts of catastrophe events in the third-quarter, suggests rate improvements are on the horizon, according to XL Group executives Mike McGavick, and Greg Hendrick. Insurer and reinsurer XL Group announced a net operating loss of more than $1 ... Read the full article

XL Group acquires 20% stake in Indian broker

17th October 2017

XL Group has expanded its Indian market presence with the acquisition of a minority 20% stake in Indian re/insurance broker, Mahindra Insurance Brokers (MIBL), a subsidiary of Mahindra & Mahindra Financial Services (M&M). The acquisition values the broker at about $200 million. XL is to buy 15% of the equity stake from existing ... Read the full article

XL’s parent gets S&P outlook downgraded to stable

12th October 2017

S&P Global Ratings has revised the parent company of XL group, XLIT and its subsidiaries' outlook from positive to stable after the series of recent catastrophes hit the firm’s capitalisation levels. XLIT will retain its ‘A-’ issuer credit rating as well as its subsidiaries ‘A+’ financial strength and issuer credit ratings, ... Read the full article

XL estimates $1.5 billion Q3 catastrophe loss

12th October 2017

Insurance and reinsurance firm XL Group, owner of the XL Catlin brand, has estimated that its losses from third-quarter catastrophes including hurricanes Harvey, Irma and Maria, will be around $1.5 billion before tax. XL forecasts $1.33 billion of losses from the hurricanes, Harvey, Irma and Maria, with the addition of other ... Read the full article

XL Group to move EU arm to Dublin as response to Brexit

19th September 2017

Global insurance and reinsurance company XL Group Ltd. has selected Dublin as its new European headquarters and the firm will move its principal European Union (EU) company, XL Insurance Company SE, from the UK to Ireland in 2018 in response to Brexit. By redomesticating XL Insurance Company SE from the UK ... Read the full article

Re/insurers’ ignoring certain exposures & soft market creates “perfect storm”, warns XL Catlin

12th September 2017

The absence of a major landfalling hurricane in the state of Florida and across the U.S. has seen some insurers and reinsurers turn a blind eye to certain exposures, which, combined with the ongoing soft market conditions creates "a perfect storm of its own," according to Wade Stier, Underwriter, U.S. ... Read the full article

XL Catlin expands North American Aviation Insurance team with key appointments

3rd August 2017

XL Catlin has expanded its Canada Aviation Insurance team with the appointment of David Watts as Vice President of Canadian Aviation Manager, Stephanie Hope as Aviation Underwriter and Alex Barker as Manager of Aviation. Timothy Bartos was announced new Vice President Senior Underwriter for the U.S. team, based in New York. Commenting ... Read the full article

XL Catlin’s Cyber & Data Protection cover launches in Asia-Pacific

26th July 2017

Global insurer and reinsurer, XL Catlin, has launched its Cyber and Data Protection Insurance policy in the Asia-Pacific, as companies across the region find themselves increasingly vulnerable to more sophisticated cyber threats. The new policy is designed to protect businesses across the Asia-Pacific from business interruption as a result of a network compromise and ... Read the full article

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