XL Group plc Announces Appointment of Eugene McQuade as Chairman of the Board
(Dublin, ireland) - May 11, 2015
XL Group plc (“XL” or the “Company”) (NYSE: XL) announced today that Director Eugene M. McQuade has been appointed as Chairman of the Board.
Mr. McQuade has been a Director of the Company since 2004 and recently retired as Vice Chairman of Citigroup. He has formerly been Chief Executive Officer of Citibank, President of Bank of America Corporation and President and Chief Operating Officer of FleetBoston Financial Corporation, among others. Mr. McQuade succeeds Robert R. Glauber, who had served as Chairman since 2009. Mr. Glauber will remain a Director of the Board and will Chair the Risk and Finance Committee.
“I am deeply honored to succeed Bob as Chairman of the Board, and look forward to helping guide XL through this new exciting phase of its growth as we continue to drive strong value for shareholders,” said Mr. McQuade.
Mr. McQuade added: “Bob Glauber has been a visionary leader throughout his tenure as Chairman, and we are delighted he has decided to remain a Director. Since his appointment as Chairman, Bob’s expertise and contributions have been vital to XL’s success as the Company refocused its strategy on property and casualty and specialty products in global insurance and reinsurance, and on the recently completed acquisition of Catlin, which solidifies the Company’s leading position in the global (re)insurance market.”
About XL Group plc
XL Group plc (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.xlcatlin.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about XL’s beliefs, plans or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations, all of which involve risk and uncertainty. Statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “anticipate,” “may,” “look” or similar statements of a future or forward-looking nature identify forward-looking statements. Factors that could cause actual results to differ from those predicted are set forth under “Risk Factors” or “Cautionary Note Regarding Forward-Looking Statements” in XL’s Annual Report on Form 10-K for the year ended December 31, 2014 and our other documents on file with the SEC. XL undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Carol Parker TrottCommunications & Marketing Director Reinsurance & Bermuda