DUBLIN, Ireland, May 11, 2015 /PRNewswire/ -- XL Group plc ("XL"
or the "Company") (NYSE: XL) announced today that Director
Eugene M. McQuade has been appointed
as Chairman of the Board.
Mr. McQuade has been a Director of the Company since 2004 and
recently retired as Vice Chairman of Citigroup. He has formerly
been Chief Executive Officer of Citibank, President of Bank of
America Corporation and President and Chief Operating Officer of
FleetBoston Financial Corporation, among others. Mr. McQuade
succeeds Robert R. Glauber, who had
served as Chairman since 2009. Mr. Glauber will remain a
Director of the Board and will Chair the Risk and Finance
Committee.
"I am deeply honored to succeed Bob as Chairman of the Board,
and look forward to helping guide XL through this new exciting
phase of its growth as we continue to drive strong value for
shareholders," said Mr. McQuade.
Mr. McQuade added: "Bob Glauber
has been a visionary leader throughout his tenure as Chairman, and
we are delighted he has decided to remain a Director. Since
his appointment as Chairman, Bob's expertise and contributions have
been vital to XL's success as the Company refocused its strategy on
property and casualty and specialty products in global insurance
and reinsurance, and on the recently completed acquisition of
Catlin, which solidifies the Company's leading position in the
global (re)insurance market."
About XL Group plc
XL Group plc (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.xlcatlin.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about XL's beliefs, plans or expectations, are
forward-looking statements. These statements are based on current
plans, estimates and expectations, all of which involve risk and
uncertainty. Statements that include the words "expect," "intend,"
"plan," "believe," "project," "anticipate," "may," "look" or
similar statements of a future or forward-looking nature identify
forward-looking statements. Factors that could cause actual results
to differ from those predicted are set forth under "Risk Factors"
or "Cautionary Note Regarding Forward-Looking Statements" in XL's
Annual Report on Form 10-K for the year ended December 31, 2014 and our other documents on file
with the SEC. XL undertakes no obligation to update publicly or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise.
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SOURCE XL Group plc