XL Appoints Alvaro Salamanca CEO of its Insurance Operation in Mexico

Published on Tuesday, 17 January 2012 11:40 Written by TradersHuddle Staff

MADRID, Jan. 17, 2012 /PRNewswire/ -- The insurance segment of XL Group plc ("XL") (NYSE: XL) today announced the appointment of Alvaro Salamanca as Chief Executive Officer of its operation in Mexico, effective immediately. He will report to Bruno Laval, XL's insurance segment's Regional Manager for Iberia & Latin America.

Alvaro Salamanca is a seasoned insurance executive with extensive underwriting experience. Prior to joining XL, Mr. Salamanca was the CEO of a Mexican management consultancy and provided advice to local and multinational insurance groups on their expansion in Latin America. Before that he led Chubb's Colombian and Mexican subsidiaries for more than 11 years.

Commenting on Mr. Salamanca's appointment, Paolo Ribotta, Head of Global Distribution and Network, XL Group, said: "We are delighted to count on Alvaro's experience to drive our operation in Mexico, where we support global program clients as well as local national and international companies. With a dynamic economy, the country offers interesting opportunities and we expect Alvaro to make a significant contribution as we seek further profitable growth in the Latin American region."

Bruno Laval, added: "Alvaro is a great addition to our team. His underwriting experience combined with his deep understanding of the local and regional markets will enable him to be a valuable partner for our clients and brokers in Mexico. His business acumen will make him a great leader for our local team and the region overall."

Alvaro Salamanca will be based in Mexico City. He holds a Bachelors degree in Mechanical Engineering from the Colombian Los Andes University and many continuing education executive studies including a Finance executive course from the J. L. Kellogg Graduate School of Management.

About XL's Insurance Segment

The Insurance segment of XL Group plc offers property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit www.xlgroup.com/insurance

About XL Group plc

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 throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at No.1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. To learn more, visit www.xlgroup.com

SOURCE XL Group plc