XL Group plc Announces Appointment of Paolo Ribotta as Head of Global Distribution
HAMILTON, BERMUDA - July 04, 2011
Hamilton, Bermuda – July 4, 2011 - XL Group plc (“XL” or the “Company”) (NYSE: XL) today announced the appointment of Paolo Ribotta as Head of Global Distribution. In the newly-created role, Mr. Ribotta will be responsible for the performance, direction, growth and support of XL’s global network. He will report to XL’s Chief Executive of Insurance Operations David Duclos and will work closely with XL Insurance’s four business Chief Executives as a fellow member of the XL Insurance Executive Board.Mr. Ribotta’s major duties will entail collaboration with business leaders across the entire XL enterprise to ensure effective broker and client relationship management as well as network management, which includes managing new fronting partner relationships. He will also be directly engaged in facilitating entry into new markets for XL’s Insurance and Reinsurance segments, as well as supporting development of underserved markets in which XL believes further opportunities exist. Mr. Ribotta, who joins XL from Zurich Financial Services, will be based in XL’s London office.Mr. Ribotta has served as CEO, France of Zurich Financial Services since 2004 and prior to that was CEO, Italy for Zurich Global Corporate from 2001 to 2004. He was appointed a Member of the European Board of Zurich’s corporate business in 2002. Mr. Ribotta is member of the World Economic Forum Young Global Leaders group. Previously he worked for UAP International where he started as an International Underwriter trainee. Mr. Ribotta holds a degree in Economics from LUISS University of Rome.Commenting on the new role and appointment, Mr. Duclos said: “The creation of this new role will allow XL to further enhance our market presence and leverage our strong global network and relationships with brokers and clients. Given Paolo’s extensive industry knowledge and experience, especially in international markets, we are delighted to have him join XL and lead this significant strategic effort.”About XL InsuranceXL Insurance is the global brand used by XL Group plc's insurance companies and underwriting divisions offering property, casualty, professional and specialty insurance products throughout the world. More information about XL Insurance is available at www.xlinsurance.com.About XLXL was formed in 1986 in response to the unmet risk management needs of 68 of the world's largest companies. This year, as XL celebrates its 25th anniversary, it remains the company clients look to for innovative insurance and reinsurance solutions for their most complex risks. 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. Its principal offices are located at No. 1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. More information about XL Group plc is available at www.xlgroup.com.
Carol Parker TrottCommunications & Marketing Director Reinsurance & Bermuda