In this new position, Mr. Garceau will manage the operational functions supporting XL Insurance’s North America P&C business. Those business units include Property, Excess & Surplus, Environmental, Excess Casualty, International Casualty, US Risk Management, Upper Middle Markets, North America Programs as well as XL GAPS, its loss prevention consulting group. His responsibilities will include coordination of various support operations intended to drive greater efficiencies throughout XL Insurance’s North American P&C underwriting units. To assure that operational functions are aligned to execute XL Insurance’s business strategy, Mr. Garceau will guide the allocation and development of support resources, oversee expense, performance and IT management, as well as take the lead in the budget & planning process, implementation of strategic projects and uncovering growth opportunities throughout North America.
Commenting on the appointment, Ms. Maag said: “No insurance company operates effectively without the right support. Delivering quality products and services is a team effort. By centrally coordinating our efforts under the direction of this new COO position, we plan to maximize the use of resources and streamline our processes. Mike will play a pivotal role in assuring that operational support is well-coordinated and working effectively and efficiently to support our underwriting activity and service delivery to our brokers and clients.”
Mr. Garceau joins XL Insurance from Zurich Financial Services where he served as Senior Vice President and head of North American Underwriting Support and Service. Prior to his two-year tenure with Zurich, Mr. Garceau held financial management positions with Chubb Specialty Insurance over the last decade, including his most recent position as Chief Financial Officer. Earlier in his career, he held finance positions with UNITEDhealthcare Corporation and United Technologies Corporation.
About XL Insurance
"XL Insurance" is the global brand used by member insurers of XL Group plc (NYSE: XL). More information about XL Insurance is available at www.xlinsurance.com. XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. More information about XL Group is available at www.xlgroup.com