XL Group has received approval from Lloyd’s to write political risk and trade credit risks using the Lloyd’s platform via XL Group’s Lloyd’s Syndicate 1209. XL also announced the expansion of its PRTC team with the addition of Mark Houghton as vice-president and senior underwriter at its Asia hub in Singapore.
Commenting on Houghton’s appointment, Richard Maxwell, XL Group's global head and chief underwriting officer for PRTC, said “We aim to become a leading provider of political risk and trade credit services worldwide. To do so we have cultivated a knowledgeable team of professionals such as Houghton, who brings 13 years of international banking and trade credit risk management experience specifically in Australasia. With our underwriting teams working closely together out of New York, London and now Singapore – and with the ability to write political risk and trade credit on the Lloyd’s platform, we are well situated to address our clients’ needs in all corners of the global marketplace.”
Houghton joins XL Group from Standard Chartered Bank in Singapore where he was director of trade credit insurance placements. His experience extends across a broad range of product disciplines including origination and relationship management, project finance, trade finance and securitisation while previously having held management positions at Sumitomo Mitsui Banking Corporation and National Australia Bank.
Joe Blenkinsopp, deputy global head of the PRTC unit based in London, will assume the role of PRTC class underwriter of XL Group’s Lloyd’s Syndicate 1209 at Lloyd’s of London, managed by XL London Market Ltd.
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