XL and Catlin choose reinsurance leaders for combined companyPosted On: Mar. 10, 2015 12:00 AM CST
The reinsurance operations of the combined XL Catlin will be led by Charles Cooper in Bermuda, Jonathan Gale in London and John Welch in North America once the companies merge later this year, Business Insurance has learned.
Gregory S. Hendrick, currently executive vice president of insurance operations at XL Group P.L.C., will be CEO of XL Catlin’s reinsurance operations once the companies are merged.
XL and Catlin Group Ltd. announced in January that they would merge in a deal that will create the world’s eighth-largest property/casualty reinsurer.
XL Catlin’s reinsurance operations will be organized into five regions led by five regional CEOs reporting to Mr. Hendrick.
Mr. Cooper, currently president and chief underwriting officer at XL Re Ltd., will become CEO of the merged company’s operations in Bermuda.
Mr. Gale, currently group deputy active underwriter of Catlin’s Lloyd’s of London syndicate 2003, will become CEO of reinsurance for the combined company in London, sources said.
Mr. Welch, currently CEO of XL Reinsurance America Inc., will become CEO of North America reinsurance for XL Catlin, according to sources.
Peter Schmidt, currently group CEO of Catlin Re Switzerland, will become CEO of Asia-Pacific, Latin America and global credit and surety reinsurance for the combined group.
David Watson, currently CEO of XL Re International, will become CEO of Europe, Middle East and Africa and international casualty reinsurance operations.
In addition, Matthew Paskin, currently underwriting director for reinsurance at Catlin, will become chief underwriting officer for reinsurance for the merged company.
Chris Dougherty, currently executive vice president of underwriting and ceded reinsurance at XL, will become chief operating officer for reinsurance.
XL and Catlin also have appointed Mark van Zanden, currently group underwriting director of outwards reinsurance at Catlin, to the role of CEO of ceded reinsurance; and Paul Shedden, currently group chief actuary at Catlin, to lead the insurance actuarial team of the new company with responsibility for pricing.