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Tom Hutton Will LeadNew Effort Focused on Innovative Underwriting and Risk Solutions

Dublin, Ireland– April 1, 2015 - XL Group plc (NYSE: XL) (“XL” or the“Company”) today announced the creation of XL Innovate, an XL sponsored venturecapital initiative. The new fund will be led by Tom Hutton, known for hisleadership in the creation of successful insurance and financial technologyventures.

XL Innovate will befinancially backed by XL and will invest in companies that have a strategicfocus on developing new capabilities in the insurance sector. The fund willtake equity positions in companies that provide new market opportunities for XLthroughout the world. XL Innovate will strive to create partnerships outside ofthe traditional underwriting space to find ways to underwrite currentlyuninsured risks.

XL CEO Mike McGavickcommented: “We are very excited to launch this new initiative, which willextend XL’s capabilities in existing markets and give us new opportunities toaddress some of the most pressing and complex risk problems in the globaleconomy. XL Innovate is an important step as we continue to drive our focus oninnovation forward and secure the relevance of XL and the industry well intothe future. We are particularly pleased to have Tom Hutton, and his strongtrack record of insurance innovation, partnering with the XL team.”

Tom Hutton, a past Directorof XL, brings extensive insurance specific knowledge to XL Innovate, both as anexecutive with experience in risk analytics, as CEO of Risk ManagementSolutions, Inc., White Mountains Re, and as a Director of private and publicinsurance and reinsurance companies including Montpelier Re and Safeco.  Most recently, Mr. Hutton served as the CEOand founder of New Energy Risk Inc., a provider of innovative data analytics,strategic consulting and financial risk transfer solutions to the renewableenergy industry worldwide, which partnered with XL last year to launch aninnovative fuel cell insurance product.

Tom Hutton added: “I amthrilled to be partnering with the XL team at a time of both industrytransition and great momentum at the company.Mike McGavick has led the creation of a forward looking and creativeculture at XL that makes it an ideal sponsor for this initiative, which will befurther enhanced by XL’s proposed offer to acquire Catlin Group Limited, and toform an even stronger company.  We lookforward to being a unique partner to entrepreneurs with the vision and ambitionto address new risks with new solutions, unconstrained by geography, scale, ortraditional thinking.”

In addition to Mr. Hutton,the fund will be led by an investment team with successful experience inidentifying, funding, and growing innovative ventures in financial technologyand insurance.  XL Innovate will beoverseen by a board of directors including Sarah Street, currently XL’s ChiefInvestment Officer. 

As was recently announced,Ms. Street will be stepping into a new role at XL focusing on innovationefforts and strategy initiatives following the close of XL’s proposedacquisition of Catlin Group Limited (“Catlin”).She will play an active role as a member of the XL Innovate investmentteam.  Greg Hendrick, currently ChiefExecutive of Insurance Operations at XL, who after the close of the proposed Catlintransaction will become Chief Executive of XL’s Reinsurance Operations, will bethe XL Leadership Team member with responsibility for XL’s involvement in theXL Innovate activities – helping connect XL Innovate’s portfolio companies to theCompany’s clients, brokers and insurance and reinsurance underwriting. XL’s proposed acquisition of Catlin of remainssubject to approval of Catlin shareholders and sanction by the Supreme Court ofBermuda, customary regulatory approvals and anti-trust clearances, and othercustomary closing conditions.

AboutXL Innovate

XL Innovate is an XLsponsored venture capital initiative focused on making investments in companieswith businesses that address the world’s most complex risk and ensuring therelevancy of the insurance industry today and into the future. XL Innovate willseek to invest in companies that strive to create partnerships outside of thetraditional underwriting space to find ways to underwrite currently uninsuredrisks. To learn more, visit

About XL Group plc

XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance andreinsurance company providing property, casualty and specialty products toindustrial, commercial and professional firms, insurance companies and otherenterprises throughout the world. XL is the company clients look to for answersto their most complex risks and to help move their world forward. To learnmore, visit

AboutNew Energy Risk

New Energy Risk appliesinnovative data analytics and modeling expertise to address the complex riskand financing issues facing manufacturers, developers, and lenders of renewableenergy products and projects.  New EnergyRisk has developed specialized product and project warranty and performancerisk solutions that play a significant role in reducing the total cost offinancing renewable energy projects.  Tolearn more, visit