XL Group's Construction Business Expands West With New San Francisco Underwriting Operation
Published on Monday, 12 March 2012 14:09 Written by TradersHuddle Staff
NEW YORK, March 12, 2012 /PRNewswire/ -- XL Group plc's (NYSE: XL) North America Construction unit is putting their Construction risk management expertise closer to their brokers and the contractors they serve by establishing a west coast underwriting operation in San Francisco.
According to Gary Kaplan, President of XL Group's North America Construction business, "While the market may recover at its own slow pace, there are good contractors out there who don't want to be complacent and wisely use risk management strategies to protect their profitability and even give themselves an advantage in this competitive market. We want to be there for them to help."
"That's why we're moving some of our underwriting experts to where our clients need us," said Mr. Kaplan. "We're setting up our west coast presence with two very seasoned underwriters including Michael Simone, currently Executive Underwriter of Construction Primary Casualty and Markus Bachmann, Vice President, Builder's Risk. Mike and Markus are relocating from New York to XL's San Francisco office where they can work more closely with our local brokers and clients. With this move, Mike is promoted to Regional Vice President to manage our Western Region's Construction Operations."
Mr. Simone joined XL last year from Old Republic Construction Program Group where he served as Product Manager on all loss sensitive accounts. He added another 16 years of underwriting experience to XL's Construction team with positions at Reliance National and Crum & Forster Insurance Company. Mr. Bachmann originally joined XL's Energy group in June 2010 and transferred to its Construction team at the end of 2010 to underwrite contractors' Builder's Risk insurance coverages, bringing more than two decades of Builder's Risk and global underwriting experience gathered during his tenure at Allianz and Zurich in the US as well as positions with Gerling Insurance Group, ABB Insurance Brokers, Union Reinsurance and Winterthur Insurance Company in Switzerland.
About XL's Insurance Operations
XL Group plc's insurance companies offer 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.
XL Group is the global brand used by XL Group plc's insurance subsidiaries.
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
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