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XL Catlin names chief executive of innovation team

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XL Catlin has named London-based Vincent Branch chief executive for Accelerate, its new team focused on innovation and insurance technology.

Previously, Mr. Branch was chief underwriting officer and chief actuary for London-based health insurer VitalityHealth, according to a statement from XL on Tuesday.

The creation of XL's Accelerate innovation team was announced in October, when the insurer said it planned to realign its property/casualty operating model as of Jan. 1.

“We all know our industry is undergoing a huge amount of change. New technologies are impacting our client’s risk profiles both in terms of creating and eliminating risk; they are also altering distribution channels and buying trends. How the market responds is going to determine the future survival of our industry,” Paul Brand, head of Accelerate, said in the statement.