Top 20 Spotlight - 19: XL Insurance

GROUP HEAD OFFICE XL House 70 Gracechurch Street London EC3V 0XL Tel: 020 7933 7000 ww...

GROUP HEAD OFFICE

XL House
70 Gracechurch Street
London EC3V 0XL
Tel: 020 7933 7000
www.xlinsurance.com

A year in the news

January - March 2008

- January: Loses Clare Pardy - underwriter responsible for its UK retail account, global marketing and sponsorship for fine art and specie - to Ecclesiastical.

- March: Parent company announces Michael McGavick is to take over from outgoing group chief executive Brian O'Hara in May, subject to Bermudian authorities' approval.

April - June 2008

- April: Hires Philip Hogg as environmental underwriter.

- May: Opens first UK office outside London, in Newcastle. Terry Nichol, regional manager for UK middle market, will be based at the new office.

- June: One of seven insurers to throw its support behind an Association of Insurance and Risk Managers initiative to limit the potential use of "reservation of rights".

July - September 2008

- July: Admits plans to make cost cuts over the next year after announcing its net income has fallen to $237.9m (£120.3m) (2007: $544.5m (£310.1m)) for the quarter ended 30 June.

- July: Launches risk solution with early warning system for competitive UK middle market.

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