XL, Catlin merger prompts series of executive changesPosted On: Jan. 18, 2015 12:00 AM CST
A series of executive changes are expected following the merger of XL Group P.L.C. and Catlin Group Ltd.
Stephen Catlin is to serve as executive deputy chairman of XL Catlin on completion of the deal, the companies said.
XL Chief Financial Officer Peter Porrino will retain that post once the insurers combine.
An additional Catlin director is expected to join the XL Catlin board on completion of the deal.
Greg Hendrick, now chief executive of XL's insurance operations, will become chief executive of reinsurance.
Until the deal closes, John Welch, chief executive of XL's North America reinsurance operations, will lead XL's global reinsurance operations following last year's retirement of Jamie Veghte as chief executive of reinsurance.
Paul Brand, chief underwriting officer at Catlin, is to become chair of the insurance leadership team and chief underwriting officer.
Myron Hendry, chief platform officer at XL, will lead the integration of the businesses.