Commenting on the appointment, Dan Riordan, XL Catlin’s Global Head of Political Risk and Trade Credit said: “Andrew is an excellent addition to our global team. As a first rate underwriter, he has the leadership skills and proven track record for successfully and sustainably growing books of business.”
Mr. Riordan continued: “Today, around the world we are seeing heightened tensions both economic and geopolitical. At the same time, there are serious concerns about security and terrorist activity. This situation is driving demand for political risk and trade credit coverages, and with our strong balance sheet, market leading limits of up to $200m per risk, and policy term of up to 15 years, we are able to respond to this demand in a way which is meaningful to our clients.
Andrew McMellin, XL Catlin’s UK Chief Executive added: “In the globalised world we live in, companies operating across borders face multiple risks. Exporters, manufacturers, financial institutions - the list goes on - are all looking to the insurance industry to protect their investments and assets. In doing so insurers are key facilitators of world trade. We are aware of the important role these insurance solutions play and that is why we have very significant underwriting capacity available and have invested further in our talented team with the appointment of Andrew.”
Mr. Underwood joins XL Catlin with over 25 years’ experience in the insurance industry. Most recently he held the position of Partner at Hiscox after serving in senior roles in both the U.S and the UK. He began his career with a Lloyd’s broker.
About XL Catlin’s Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group plc’s (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional 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 xlcatlin.com.