XL Europe today announced the formation of a new London-based $50m (£26m) gross line US liability...
XL Europe today announced the formation of a new London-based $50m (£26m) gross line US liability underwriting unit.
The team will be headed up by ex-Zurich London chief underwriting officer Glenn Burles and will include Neil Smith and Paul Tooley.
The unit will underwrite North American casualty umbrella and excess business from XL's London office.
The $50m (£26m) capacity will be independent of and additional to XL's existing US casualty capacity available through Bermuda, Dublin and the US. The issuing carrier will be XL Europe Ltd.
Dermot O'Donohoe, chief executive of XL's Insurance Operations in the UK and Ireland, said: “London as a wholesale market is very important to XL since it attracts quality business. We anticipate that this new team will service this business with similar success to that already achieved in the London market.”
