DUBLIN, Ireland, May 18, 2016 /PRNewswire/ -- XL Group plc
("the Company") (NYSE: XL) today announced that it has appointed
Sean McGovern as Chief Compliance
Officer, Head of Regulatory & Government Affairs.
In this newly created role, Mr. McGovern, as Chief Compliance
Officer will have overall responsibility for corporate and
regulatory compliance, reporting to the Audit Committee of the
Board and to Chief Executive Officer Mike
McGavick, and also will lead global regulatory and
government affairs for the Company.
Mr. McGovern will join the Company from Lloyd's of London where he is currently Chief Risk
Officer and General Counsel.
Commenting on the appointment, Mike
McGavick said: "There is no greater endorsement of our
strategy and our vision for the future than our ability to attract
the industry's leading talent and we're very pleased to have Sean
join XL Catlin in this key role. For some time, we have been
considering, in-light of the continuing evolution of global
(re)insurance regulatory standards and expectations, how to best
arrange our compliance and regulatory areas. The addition of Sean
allows us to accelerate our plans to more closely align and
increase the profile of these critical functions.
"Sean has exactly the right background and experience to keep XL
Catlin at the forefront of the industry agenda and as a thought
leader in compliance and regulatory affairs in our sector."
Commenting on the announcement, Mr. McGovern said: "I am excited
to be joining XL Catlin in this new role at a time when compliance
and regulatory requirements are changing around the
world. These issues are critical to the future development of
the (re)insurance sector as a whole and I look forward to helping
drive this agenda at XL Catlin."
Mr. McGovern joined Lloyd's of London in 1996 becoming a Director and Lloyd's
General Counsel in 2002. He was appointed Chief Risk Officer in
2014 and joined Lloyd's Franchise Board. In this last role, he was
responsible for risk governance and the legal, regulatory and
government affairs for Lloyd's of London around the world.
Mr. McGovern is a non-executive board member of TheCityUK which
promotes the UK financial services sector and is also Chairman of
its International Trade & Investment Group. In November 2011 he was appointed to serve as a
member of the first US Federal Advisory Committee on Insurance and
has since been reappointed for a further term. In 2015 he was also
appointed by the US Treasury to serve on the terrorism insurance
Advisory Committee on Risk-Sharing Mechanisms. He is also a Trustee
and board member of The Centre for Effective Dispute Resolution
(CEDR), which promotes better conflict management and dispute
resolution.
Before joining Lloyd's of London Mr. McGovern, practiced law at
Clifford Chance LLP, based in London.
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.
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SOURCE XL Group plc