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XL Group 

“Market Cap $8.57 B As of May 2014

At a Glance

  • Industry: Diversified Insurance
  • Founded: 1986
  • Country: Ireland
  • CEO: Michael Mcgavick
  • Website: www.xlcapital.com
  • Employees: 4,291
  • Sales: $7.48 B
  • Headquarters: Dublin

Forbes Lists

#669 Global 2000

  • #1209 in Sales
  • #598 in Profit
  • #519 in Assets
  • #1248 in Market value
Profile

XL Group Plc is a global insurance and reinsurance company. It provides property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. The company operates through three operating segments: Insurance, Reinsurance and Life Operations. The Insurance segment operations markets and distributes coverage through a wide variety of local, national and international producers and provides customized insurance policies for complex corporate risks that may require large limits. It is reorganized into four business units: International Property & Casualty, North America Property & Casualty, Global Professional and Global Specialty Lines. The International Property unit includes property, primary and excess casualty, environmental liability and upper middle markets. The North America Property and Casualty unit includes property, primary and excess casualty, environmental liability, excess and surplus lines, construction, surety and program business. The Global Professional unit includes directors and officer’s liability, errors and omissions liability and employment practices liability coverage’s. The Global Specialty unit includes aviation and satellite, marine and offshore energy, fine art and specie, equine, product recall, political risk and North America inland marine. The Reinsurance segment provides casualty, property risk, property catastrophe, marine, aviation, treaty and other specialty reinsurance on a global basis with business being written on both a proportional and non proportional basis and also on a facultative basis. The Life Operations segment provides life reinsurance on business written by life insurance companies, principally to help them manage mortality, morbidity, survivorship, investment and lapse risks. XL Group was founded in 1986 and is headquartered in Dublin, Ireland.

“XL Group History

The company began as “EXEL Limited”. Ian Heap was appointed the company’s first CEO in 1987, followed by Michael Kevany in 1989 serving until 1994. Brian O’Hara became XL’s third CEO in 1994 serving in that position until 2008 when Mike McGavick stepped into the CEO position in May of that year.”

*Information from Forbes.com and Wikipedia.org

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