8 June 2016Bermuda analysis

XL Catlin creates new alternative risk transfer team

The insurance operations of global insurance company XL Catlin has created a new team to focus on alternative risk transfer and non-traditional insurance globally.

The team, named Structured Risk Solutions (SRS), offers clients and brokers multi-year, multi-line structured re/insurance solutions for captive insurance companies.

It will be led by Rob Turner, the global head of SRS who joined XL Catlin in 2015.

SRS is a dedicated global underwriting unit charged with providing XL Catlin’s clients with customised solutions for large and complex risks where there is currently no traditional insurance product offered by the market.

It also offers clients and brokers bespoke risk transfer solutions for new and emerging risks for corporate clients and financial institutions.

Paul Brand, chief underwriting officer and chairman of XL Catlin’s insurance leadership team, said: “We believe the market opportunity for this type of business is significant; 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.”

The team is located in London, across European locations and is expanding to New York in the near future.