0000875159-16-000188.txt : 20161026 0000875159-16-000188.hdr.sgml : 20161026 20161026081320 ACCESSION NUMBER: 0000875159-16-000188 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20161026 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20161026 DATE AS OF CHANGE: 20161026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: XL GROUP LTD CENTRAL INDEX KEY: 0000875159 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 980665416 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10804 FILM NUMBER: 161951579 BUSINESS ADDRESS: STREET 1: O'HARA HOUSE STREET 2: ONE BERMUDIANA ROAD CITY: HAMILTON STATE: D0 ZIP: HM08 BUSINESS PHONE: 353-1-400-5500 MAIL ADDRESS: STREET 1: O'HARA HOUSE STREET 2: ONE BERMUDIANA ROAD CITY: HAMILTON STATE: D0 ZIP: HM08 FORMER COMPANY: FORMER CONFORMED NAME: XL GROUP PLC DATE OF NAME CHANGE: 20100701 FORMER COMPANY: FORMER CONFORMED NAME: XL CAPITAL LTD DATE OF NAME CHANGE: 19990302 FORMER COMPANY: FORMER CONFORMED NAME: EXEL LTD DATE OF NAME CHANGE: 19950720 8-K 1 tom8-k.htm 8-K Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
October 26, 2016
XL GROUP LTD
(Exact name of registrant as specified in its charter)

Bermuda
 
1-10804
 
98-1304974
(State or other jurisdiction of
incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)

O'Hara House, One Bermudiana Road, Hamilton, Bermuda
 
HM 08
(Address of principal executive offices)
 
(Zip Code)
Registrant's telephone number, including area code:  (441) 292-8515
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¬
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
¬
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
¬
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
¬
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)    XL Group Ltd (the “Company”) announced today that Mr. Paul Brand, currently Executive Vice President, Chair of the Insurance Leadership Team and Chief Underwriting Officer, Insurance of the Company, has decided to accept a change of role, becoming the leader of a new internal innovation team, Accelerate, effective January 1, 2017. The Company’s press release announcing this and other senior role changes is attached as Exhibit 99.1 hereto and incorporated by reference herein.
Item 9.01.    Financial Statements and Exhibits.
(d)    Exhibits. The following are filed herewith:
Exhibit No.
 
Description
99.1
 
Press Release ("XL Group Announces Realigned P&C Operating Model and Related Senior Role Changes"), dated October 26, 2016.
 






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




 
XL Group Ltd
 Date: October 26, 2016
By:
/s/ Kirstin Gould
 
 

Name:   Kirstin Gould
Title:     General Counsel and Secretary



 EX-99.1 2 tompressrelease-01.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1
xlgrouplogoa03.jpg
Press Release
 
O'Hara House
 
One Bermudiana Road
 
 
Hamilton HM 08
 
 
Bermuda
 
 
Phone +1 441 292 8515
 
 
Fax +1 441 294 7307 
 
 
www.xlgroup.com
Contact: 
David Radulski    
Carol Parker-Trott
 
Investor Relations
Media Relations
 
(203) 964-3470
(441) 294-7290


XL Group Announces Realigned P&C Operating Model and Related Senior Role Changes

Paul Brand to Lead New Innovation Group; Greg Hendrick Appointed President, Property & Casualty;



Hamilton, Bermuda - October 26, 2016 - Today XL Group Ltd (“XL” or the “Company”) (NYSE: XL) announced senior role changes in connection with a planned realignment of its Property & Casualty (“P&C”) Operating Model, all of which will be effective January 1, 2017.

Paul Brand, currently Chief Underwriting Officer, Insurance, will lead a new internal innovation team, Accelerate. Greg Hendrick, currently Chief Executive of Reinsurance, will assume the new role of President, Property & Casualty overseeing the Company’s entire P&C operation.
The new P&C organizational structure will consist of four business groups aligned principally to their patterns of distribution and client focus: Global Lines, International and North America groups in Insurance, with global Reinsurance comprising the fourth group.
As part of the P&C realignment, XL also announced leadership changes in key P&C Capabilities including Kelly Lyles, currently Chief Regional Officer, Insurance, who will assume the new role of Chief Executive Client & Country Management, responsible for global broker management and for ensuring that country leadership continues their critical role in bringing insurance risk products to market.
Commenting on the announcement, XL CEO, Mike McGavick said: “The operating model we put in place at the time of our integration was highly successful, as we retained business and talent beyond our expectations. Now, in-line with our commitment to make it better, we’re realigning our operations to simplify decision making and to create clearer leadership and accountability. Wherever possible, underwriting decisions will be closer to the client and broker and with a simplified review process giving us a greater ability to respond to market opportunities and drive innovation. But, importantly, our fundamental strategy remains the same as will the vast majority of XL Catlin colleagues our clients and brokers work with today.
“Much of this realignment originated with Paul Brand and his vision for how we might accelerate innovation and at the same time simplify our core businesses. Accordingly, I couldn’t think of a better candidate to help collect and accelerate our ongoing innovation initiatives. Without question, innovation of our core P&C product requires a blend of fundamental underwriting knowledge and a forward looking perspective.

1


“And, in this new model Greg Hendrick is the ideal candidate to lead our core P&C operations. He has led both Insurance and Reinsurance, and has been instrumental in developing the Company’s long standing strategy.”
Brand will be responsible for leveraging efforts like the Company’s ongoing innovation and insuretech efforts, including: relationships through XL Innovate, the XL-backed venture capital fund; the Company’s sponsorship of Oxbotica, a leader in autonomous systems development; the work with BlueMarble micro insurance; and internal product innovation.
Charles Cooper, currently Chief Executive Reinsurance, Bermuda will assume Greg Hendrick’s current role as Chief Executive of Reinsurance. Joe Tocco, currently Chief Executive, Americas, will become Chief Executive North America, Insurance. Jason Harris, currently Chief Executive, Global Casualty will become Chief Executive International, Insurance, while Doug Howat, currently Chief Executive Energy, Property and Construction, will become Chief Executive Global Lines, Insurance.
In addition to Lyles, leading other key P&C Capabilities will be Neil Robertson, currently Chief Executive Global Specialty who will become Chief Executive Insurance Underwriting; Paul Shedden, currently Head of Insurance Pricing and Analytics who will become Chief Executive, Insurance Pricing & Analytics; and Mark van Zanden, currently Chief Executive Ceded Re who will become Chief Executive, P&C Underwriting Capital Management.
Other leaders named as part of the P&C realignment can be found here:
http://www.xlcatlin.com/insurance/org

About XL Group Ltd

XL Group Ltd (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.xlgroup.com.



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