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XL Catlin opens Canadian political risk practice

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XL Group P.L.C., which does business as XL Catlin, said Tuesday that it has launched a political risk, credit and bond insurance practice in Canada.

XL Catlin named Marvin Azzopardi as Toronto-based senior underwriter of the new practice, the insurer said in a statement. Previously, Mr. Azzopardi led the Canada credit and political risk underwriting team at Zurich North America.

XL Catlin’s underwriting and analytical political risk, credit and bond team offers broad coverage products for banks, investors, export credit and public-sector multilateral agencies investing in mid- and high-risk regions. XL Catlin’s policies can align with the duration of strategic investments, with tenors of up to 20 years and limits of up to $200 million, according to the statement.