XL Group shifts post-merger operating structurePosted On: Oct. 26, 2016 12:53 PM CST
XL Group Ltd. said it has made several senior role changes as the insurer works to realign its property/casualty operating model following last year’s acquisition of Catlin Group Ltd.
The company’s new property/casualty organizational structure will consist of four business groups: global lines, international, North America and global reinsurance, the insurer said Wednesday in a statement.
XL completed a deal to acquire Catlin Group Ltd. for $4.1 billion in May 2015. In Wednesday’s statement, XL CEO Mike McGavick said the “operating model we put in place at the time of our integration was highly successful, as we retained business and talent beyond our expectations.”
He added that "realigning our operations (would) simplify decision-making and to create clearer leadership and accountability."
The company announced several executive appointments, effective Jan. 1, coinciding with its reorganization.
Paul Brand, XL’s chief underwriting officer of insurance, has been chosen to lead Accelerate, a new internal innovation team, the statement said. Greg Hendrick, chief executive of reinsurance, was named president of property & casualty overseeing the company’s entire property/casualty operation.
XL also made leadership changes in property/casualty capabilities. Kelly Lyles was named chief executive client & country management, responsible for XL’s global broker management. Previously, Ms. Lyles was chief regional officer, insurance with XL.
Charles Cooper, who is currently chief executive reinsurance, Bermuda, was named chief executive of reinsurance for XL, the company said. Joe Tocco, currently chief executive, Americas, was named chief executive North America, insurance.
Jason Harris, currently chief executive, global casualty, will become XL’s chief executive international, insurance. Doug Howat, currently chief executive of energy, property and construction, will become chief executive of global lines, insurance, XL said.
In addition, Neil Robertson, currently chief executive of global specialty was named chief executive of insurance underwriting. Paul Shedden, currently head of insurance pricing and analytics, was named chief executive, insurance pricing and analytics.
Mark van Zanden, currently chief executive of ceded re, was named chief executive, property/casualty underwriting capital management, XL said.