The opening day of the biannual conference of the Federation of European Risk Management Associations (FERMA) sees XL launching its new brand identity, its fresh approach to underwriting and a series of new coverages.
Greg Hendrick, executive vice-president, strategic growth at the insurer, explained that the new brand reflects a strategy of harnessing key talent and investing in new technology. "The new structure allows us to respond to client needs faster," he added.
Part of XL's new strategy is to focus on the middle market, offering cover to companies in the UK (with a turnover between £25 and £250m).
Extending XL Insurance’s middle market team, Chris Oatten has been appointed senior property underwriter, middle markets and Julie Knight, senior casualty underwriter, middle markets. Since the launch of its UK middle market operations in 2008 the unit has opened offices in Newcastle, Birmingham and Dublin.
The insurer also used the platform of today's FERMA conference in Stockholm to announce the extension of its business to upper middle market firms in the Nordic region. A dedicated underwriting team, based in Stockholm, will serve companies with a revenue of approximately EUR30m to approximately EUR300m. The upper middle market team will focus on offering property and casualty policies, with a capability to provide a combined solution.
Additionally, following its recently launched surety, marine and political risk products, the insurer has today launched a new cyber liability product for Europe.
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