A former AIG executive who joined XL Catlin a year ago will lead the insurer’s new team focused on global alternative risk transfer and novel kinds of commercial insurance coverage.
Rob Turner, global head of structured risk solutions, joined XL Catlin in 2015 as lead consultant focused on establishing XL Group’s complex accounts capabilities in London. He’ll run the new team – known as Structured Risk Solutions – which will focus on providing global XL Catlin clients with custom products for large and complex risks where traditional insurance is lacking in the market.
Before joining XL Group in early 2015, Turner was at AIG Europe Ltd., serving as head of Alternative Solutions. He’s also a 20-year veteran of insurance, reinsurance and capital markets.
Custom insurance products from Structured Risk Solutions will include risk transfer coverage for new and emerging risks for both corporate clients and financial institutions, and muti-year/multi-line structured insurance/reinsurance coverage for captive insurance companies.
Initial plans call for basing the team in London and various European locations. It will expand to New York “shortly,” XL Catlin said in its deal announcement.
Paul Brand, chief underwriting officer and chairman of XL Catlin’s insurance leadership team, said the insurer and reinsurer is taking advantage of a new marketing opportunity that could have some serious traction in the future.
“We believe the market opportunity for this type of business is significant,” Brand said in prepared remarks. “Risks are evolving and increasingly clients look to us to find non-traditional and innovative approaches to manage their exposures. We believe we have the expertise and appetite to make a real difference in this space.”
Source: XL Catlin