XL Insurance expands professional lines team

by Gill Montia

Story link: XL Insurance expands professional lines team

XL Insurance has announced the appointment of two financial institutions underwriters to its London-based professional lines team.

Senior underwriters Gerard Bloom and Neale Stevenson will offer specialist professional liability coverage for financial institutions such as hedge funds, asset managers and banks.

Mr Bloom moves from Zenith to head the new team, bringing to bear more than 15 years’ experience in European professional lines insurance.

Mr Stevenson has worked in the insurance industry for more than 20 years, most recently heading the financial institutions team at Liberty International Underwriters in London.

Commenting on the appointments, XL’s chief underwriting officer professional lines UK, William Wharton, said: “We are looking to expand our business portfolio for financial institutions and believe that our clients are best served by a dedicated team of underwriters focusing purely on these specialist risks.”

XL Insurance is the global brand used by member insurers of reinsurer, XL Capital Ltd.

The parent company entered difficult waters as the credit crisis struck, when it was forced to bail out Security Capital Assurance, its bond insurance business, regarding credit default swaps.