XL Group has set up an operational risks team to provide operational risk insurance solutions to its financial institutions clients.
The insurer has appointed Angelos Deftereos as senior underwriter. Deftereos joins from Morgan Stanley Wealth Management where he was an executive director responsible for the implementation of the operational risk programme. Prior to that he was a senior vice-president, operational risk practice leader at Marsh in the US.
Gerard Bloom, chief underwriting officer, financial institutions, XL Group said: “Operational risk has risen to the top of the boardroom agenda. In an increasingly complex and regulated environment, Financial Institutions need innovative solutions to face these risks and that is why we have set up this new team."
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