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XL Establishes Office of Strategic Growth and Announces New Appointments

Source: XL Group


Posted on 01 Nov 2010

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XL Group plc announced Thursday that it has appointed Gregory S. Hendrick as Executive Vice President, Strategic Growth, effective immediately. Mr. Hendrick will lead XL’s newly-created Office of Strategic Growth and will report to XL Chief Executive Officer Mike McGavick. He will also serve on XL’s Leadership Team.

Mr. Hendrick, immediately prior to the new appointment, was President and Chief Underwriting Officer of XL Re Ltd, XL’s Bermuda-based reinsurance company, for the past six years. During his 15 years with XL, Mr. Hendrick has held various senior leadership positions including Vice President and Underwriter of XL Mid Ocean Re, and Senior Vice President and Chief Property Underwriter for XL’s Bermuda reinsurance operations.

In his new role, Mr. Hendrick will be responsible for guiding XL’s strategic planning, focused on enhancing the Company’s operational efficiencies and further growing XL’s underwriting units.

Mr. Hendrick’s reinsurance successor will be Bermudian underwriter Charles F.A.Cooper. Mr. Cooper, who most recently was Executive Vice President and Head of North American Property Catastrophe Reinsurance Underwriting at Validus Reinsurance Ltd, has 15 years of experience in the industry, including nine years with XL. He began his XL career with XL Reinsurance America, Inc. in Stamford, Connecticut, in 2000 as an Assistant Vice President and Corporate Planning Analyst. In 2005, he transferred to the Bermuda office where he was Senior Vice President & Underwriter for XL Re Ltd with responsibility for Property catastrophe and specialty accounts business.

Commenting on Mr. Hendrick’s appointment, Mr. McGavick said: “This is an exciting time for XL. Greg’s focus on strategy and his leadership of the new office will allow the Company to carefully plan for the future and clearly track our progress and success. Greg has been instrumental in leading various successful initiatives during his XL career and we are thrilled to have him in this important position.”

XL’s Chief Executive of Reinsurance Operations James H. Veghte added: “XL is fortunate to have and attract such a high caliber of talent in the industry. Having worked with both Greg and Charles, I have seen firsthand their underwriting prowess and leadership skills. I am confident that they will continue to significantly contribute to helping XL reach its business and strategic goals.”

XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. Its principal executive offices are located at No. 1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. More information about XL Group plc is available at www.xlgroup.com.


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