XL Group chief executive (CEO) Mike McGavick has written to staff of the combined XL Catlin business to reveal those who will be tasked with leading the enlarged company’s insurance operations in each country, Reactions understands.
McGavick, who will serve as chief executive of XL Catlin when the transaction is completed, said the new insurance division structure is "a more matrixed approach" that what XL currently works under.
"Within that matrix, the underwriting chief executives will be responsible for certain key activities within their divisions including underwriting strategy, underwriting guidelines, pricing and analytics and product design.
"Similarly, the insurance region chief executives will be responsible for activities within their region including broker management, client management, country management and legal entity management.
"Underwriting divisions and regions will have shared responsibility for regional underwriting, and as a result, regional underwriters will have dual reporting – into both divisions and regions."
These 47 appointments mark the next step in the company’s preparations for the future, with the latest announcement following on from two memos McGavick has sent to staff over the past five weeks detailing who will be leading XL Catlin’s insurance and reinsurance operations.
The new announcement shows many of the leaders who will directly report to XL Catlin’s insurance underwriting division and regional chief executives once the deal has been closed.
While there are 47 named appointments, several gaps still remain, such as the three people who will be appointed head of broker and client management in the Americas, Asia and Europe. Who will be named director of strategic operations in Europe is also unclear.
Reactions understands that within the memo, McGavick explains “the basic structure will be four insurance underwriting divisions set up around our products and, four insurance regions”.
“Underwriting chief executives will report to Paul Brand and region chief executives will report to Kelly Lyles,” he adds.
McGavick also promised further information will be unveiled in the coming weeks, namely additional direct reports to the insurance underwriting division and regional chief executives, regional insurance product leaders and additional country managers. A description of how the current insurance businesses will map to the new model will also be outlined.
Other announcements about the next level of reinsurance leadership, leadership of our claims and actuarial functions, as well as functional teams will be revealed in due course, McGavick says in the briefing.
The full list of newly announced appointments is below:
Appointments that will be directly reporting into the insurance region chief executives:
|Americas Region, headed up by CEO Joe Tocco|
|Latin America ||Bruno Laval|
|Underwriting Director||Nick Greggains|
|Underwriting Director||Bob Shine|
|Director Strategic Operations||Donna Nadeau|
|Head of Broker and Client Mgmt||TBA|
|Asia Region, headed up by CEO Craig Langham|
|Deputy CEO||Mark Newman|
|Greater China||Philip Chan|
|Underwriting Director||Bobby Heerasing|
|Director Strategic Operations||Philippe Lutgen|
|Head of Broker and Client Mgmt||TBA|
|Europe Region, headed up by CEO Ralf Tillenburg|
|DACH and Netherlands||Dieter Goebbels|
|Southern Europe||Bruno Laval|
|Northern Europe||Peter Wullimann|
|France and Belgium||Kadidja Sinz|
|Middle East and Africa||Ralf Tillenburg|
|Underwriting Director||Carsten Keune|
|Director Strategic Operations||TBA|
|Head of Broker and Client Mgmt ||TBA|
|UK and Ireland, headed up by CEO Andrew McMellin|
|Underwriting Director||Paul Greensmith|
|Director Strategic Operations||Richard Clapham|
|UK Head of Broker and Client Mgmt||Nigel Bamber|
Appointments that will be directly reporting into the insurance underwriting division chief executives:
|Casualty, headed up by CEO Jason Harris|
|Casualty, North America||Ken Riegler|
|Casualty, International||Daniel Maurer|
|Excess, North America||Lorraine Seib|
|US Construction||Gary Caplan|
|Professional, headed up by CEO Dan Kumpf|
|Hartford Professional||Tony Giacco, Sean Hearn, John Burrows, James Koval|
|International Financial Lines||Louise Dennerstahl|
|Design and Select||Alex Blanco|
|Global Crime||Greg Bangs|
|Bermuda Professional||Matt Irvine|
|Property, energy and construction, headed up by CEO Doug Howat|
|Global Energy||Huw Jones|
|International Property||Ian France|
|North American Property||Michele Sansone|
|International Construction||Max Benz|
|Specialty, headed up by CEO Neil Robertson|
|Global Marine||Lee Meyrick|
|Global Crisis Management/PRTC||Stephen Ashwell|
|Global Fine Art and Specie||Graham Hawkins|
|Global Aerospace||Paul Tuhy|
|Global A&H and Equine||Nigel Guillaume-Smith|