Former Zurich U.S. chief Riordan lands at XL CatlinReprints
Former Zurich Insurance executive Daniel Riordan has been appointed to the new position of president of global political risk and trade credit at XL Group P.L.C.
Mr. Riordan held a variety of positions at Zurich Insurance, most recently as CEO of global corporate in North America. He left the post last year amid several executive-level departures at the Swiss insurer, which underwent a review of its property/casualty operations following disappointing results.
Mr. Riordan also previously served as vice president of insurance and senior adviser to the president at the Overseas Private Investment Corp. before joining Zurich in 1997.
“The appointment also marks a structural change at XL Catlin with (political risk and trade credit) becoming a separate underwriting unit, having previously been under the umbrella of crisis management, led by Stephan Ashwell,” XL Catlin said announcing the appointment Thursday.
The insurer, which is redomiciling from Dublin to Bermuda, said Joe Blenkinsopp will continue as global chief underwriting officer and will report to Mr. Riordan.
Mr. Riordan's appointment takes effect May 2. He will report to Neil Robertson, XL Catlin's chief executive of global specialty, insurance.
“We have appointed Dan and made changes to our structure because we want to fully focus on developing our share of this significantly growing market,” Mr. Robertson said in the statement. “Global geopolitical tensions and economic uncertainty has led to an increase in demand and over time we will be looking to add further resources in our key underwriting regions to respond to this growth opportunity.”