HAMILTON, Bermuda, Feb. 22, 2017 /PRNewswire/ -- XL Group Ltd
("XL" or the "Company") (NYSE: XL) announced today that Group
Controller Stephen Robb will succeed
Peter Porrino as Chief Financial
Officer, following Mr. Porrino's retirement, effective May 1, 2017. Mr. Porrino will continue with the
Company on a part-time basis, working as an advisor to Chief
Executive Officer Mike McGavick.
Since joining the Company in 2004, Mr. Robb has held various
progressively senior leadership positions that have included
responsibility for accounting policy, budgeting and planning,
treasury functions, rating agency relationships, corporate
financial close, financial regulatory reporting and finance risk
and controls matters. Prior to joining XL, Mr. Robb worked in
the insurance practice of PricewaterhouseCoopers LLP, as Senior
Manager, Insurance Industry Group Leader.
As Chief Financial Officer, he will report to Mr. McGavick and
join XL's Leadership Team.
Commenting on the announcement, Mr. McGavick said: "First of
all, personally and on behalf of the Leadership Team and our Board
of Directors, I'd like to thank Pete for his valuable contributions
to XL as an advisor prior to joining in 2011 and subsequently as a
strategic steward of the Company's finances and an insightful
business partner. During Pete's tenure as CFO he has been
instrumental in our most significant achievements, including our
2014 life retrocession transaction, the successful Catlin
acquisition, the implementation of our Enterprise Enablement
management information project and XL's redomestication to
Bermuda. Most importantly, he has been my partner and a
valued friend. I look forward to continuing to work with Pete in
his new capacity as an advisor to me and the Company.
"At the same time, it is a real testament to the strength of our
bench and Steve's deep abilities that we are able to fill Pete's
role from inside the Company. Steve has worked closely with
the Board and with our Leadership Team for many years on major
corporate initiatives and with Pete in particular in the management
of our finance function. He is highly respected for his
considerable intellect, astute judgment, wealth of knowledge and
experience. There are few that understand the way XL is built as
deeply as Steve and we're confident that he will only continue the
transformation of the CFO role that Pete has led."
About XL Group Ltd
XL Group Ltd (NYSE:XL), through its subsidiaries and under the
XL Catlin brand, 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. Clients look to XL Catlin
for answers to their most complex risks and to help move their
world forward. To learn more, visit www.xlgroup.com.
Contact:
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Abbe F. Goldstein,
CFA
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Carol Parker
Trott
|
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Investor
Relations
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Media
Relations
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(203)
964-3573
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(441)
294-7290
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SOURCE XL Group Ltd