Reinsurance News

XL Catlin sets up Political Risk, Credit & Bond practice in Canada

31st May 2017 - Author: Staff Writer

XL Catlin has opened its first Political Risk, Credit & Bond (PRCB) insurance practice in Canada and appointed Marvin Azzopardi as Senior Underwriter.

The move comes in response to continued demand for PRCB insurance from Canadian firms, as businesses navigate an increasingly uncertain geopolitical environment.

Dan Riordan, Global Head of PRCB, said; “We are very excited to open our first Canada-dedicated Political Risk, Credit and Bond underwriting practice. Marvin’s specialized background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from both private and public sectors.”

Azzopardi is set to begin his Toronto based role from June 1st.

As Senior Underwriter of the PRCB practice in Canada, he’ll report to Richard Abizaid, Regional Product Leader, and will be responsible for business growth through partnering with Canadian clients and their brokers.

Nick Greggains, CEO and Country Manager for XL Catlin, Canada, commented; “The opening of our first Canada-based XL Catlin PRCB underwriting practice further strengthens our capabilities to partner with our key brokers, banks and investors who see the unique growth opportunities at home and abroad. Marvin is an expert in his field and an excellent addition to our team of talented Canadian underwriters.”

Azzopardi joins the PRCB team from Zurich, where he served as leader of the Canada Credit & Political Risk underwriting team.

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