Mr. Peeters will assume his new position effective January 1, 2008, and will be responsible for overseeing XLIB’s second-largest portfolio of business and a team of 14 people. He replaces Mrs. Sherron Williams who will be transferring to XLIB’s Claims division.
During his 22-year career, Mr. Peeters has gained strong technical expertise in various Professional Liability products, including Directors and Officers, Employment Practices Liability, Fiduciary Liability and Professional Indemnity. He joined XL as Vice President of Professional Lines in 1998. He was promoted to Deputy Chief Underwriting Officer of Professional Lines in 2004 and became Senior Vice President in April 2007. Prior to joining XL, Mr. Peeters spent 13 years as a broker for AON and Marsh, and worked in London, New York and Bermuda, providing services to clients on a worldwide basis.
Mr. John Glancy, Chief Underwriting Officer of XL Insurance's Global Professional operations, said: “I would like to congratulate Mark, who has demonstrated not only an acute set of management skills, but a deep understanding of the professional liability risks faced by this industry. This makes him an ideal leader for the Bermuda Professional Liability team. Under Mark’s leadership, XLIB will continue to work to reinforce their leadership position in this market.”
Mr. Don Baker, Executive Vice President of XL Insurance (Bermuda) Limited, said: “Mark has been a dedicated XLIB team member for over 9 years and we are pleased to have him assume this leadership role. I would also like to thank Sherron Williams for her contributions over the years, particularly during her time leading the Bermuda Professional Liability team, and wish her all the continued success in her new role.”
XL Insurance (Bermuda) Ltd, a Bermuda-based subsidiary of XL Capital Ltd (NYSE:XL), focuses on large corporate risks and professional lines. XL Capital Group Ltd, through its operating subsidiaries, is a leading provider of global insurance and reinsurance coverages to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of September 30, 2007, XL Capital Ltd had consolidated assets of $60.9 billion and consolidated shareholders’ equity of $11.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.