Reinsurance News
XL Catlin
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
Brit agrees on XL Catlin exclusive yacht portfolio renewal rights deal
24th July 2017
Brit Global Specialty USA (BGSU) has reached an agreement for exclusive renewal rights to part of XL Catlin's directly written yacht portfolio. Under the agreement, Brit BGSU’s Yacht team will service legacy Catlin policies written before the firm's acquisition by XL until expiration, and then provide eligible customers with renewal quotes. Matthew Wilson, CEO, ... Read the full article
XL Catlin has named Ashish Umre as partner of its Accelerate AI team
12th July 2017
Insurer and reinsurer XL Catlin has added a key Artificial Intelligence (AI) expert, with the appointment of Ashish Umre as the new London-based partner of its Accelerate AI team. Accelerate was set up in November 2016 as XL Catlin's internal innovation team to leverage new technologies to grow market reach, while ... Read the full article
Sonja Ochsenkuehn joins XL Catlin from AIG to lead Global Programs
10th July 2017
The global insurance division of insurer and reinsurer, XL Catlin, has announced the appointment of Sonja Ochsenkuehn from insurer AIG, as Head of Global Programs. Ochsenkuehn has worldwide responsibility for XL Catlin's insurance operations' Global Programs, which are key to the company's offerings to its clients. In fact, XL Catlin explains that last ... Read the full article
Facilities performing “as expected” for XL Catlin, increased size paying off
30th June 2017
XL Group's senior executives recently told analysts from Keefe, Bruyette & Woods that their portfolio underwriting initiatives through facilities are performing in-line with expectations, opportunities that the company may not have had prior to the merger with Catlin. Forming XL Catlin was all about scale and relevance in the insurance and ... Read the full article
XL Catlin promotes Murphy to Excess & Surplus Property Insurance Regional Leader
26th June 2017
XL Catlin's Excess & Surplus (E&S) insurance team has promoted Caitlin Murphy to Eastern Regional Vice President from senior underwriter. Murphy will work alongside E&S's property leadership team including Kyle Burnett, West Region Vice President and Brian Ahern, Central Region Vice President, and will be responsible for directing regional underwriting operations and product and ... Read the full article
XL Catlin expands Latin America Marine Underwriting with string of hires and promotions
23rd June 2017
XL Catlin has expanded its Latin America Marine Underwriting team with a string of new hires and promotions in Brazil and Mexico. In Mexico Francisco Campos, previously Junior Underwriter, was appointed to Marine Cargo Underwriter; in Brazil Karina Amaral joined the team to take up the same position. The re/insurer announced the ... Read the full article
XL Catlin announces promotion of Adias Gerbaud to Head International Environmental
8th June 2017
XL Catlin has announced the promotion of Adias Gerbaud to Head International Environmental as the reinsurer moves to strengthen its environmental insurance capabilities across its EMEA, LatAm and APAC regions. In her newly expanded Madrid-based role, Gerbaud will be responsible for managing XL Catlin’s environmental portfolio while leading a team of eleven underwriters ... Read the full article
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