XL boosts financial lines in Latin America

XL has strengthened its financial lines offering in Latin America with the move of Najib Bousakr, financial institutions manager, to Brazil.

XL said this was in response to the growing need of companies operating in the region’s financial sector for insurance protection.

Bousakr has served Latin American clients out of XL Group’s London office over the past four years and has now moved to Sao Paulo. He will continue to report to Gerard Bloom, XL Group’s chief underwriting officer financial institutions, based in London.

Bloom said: “As financial institutions face challenging economic and regulatory conditions, they look for a strong insurance partner who understands their business and can provide solutions that add long-term value to their business. With Najib’s move to Brazil, we’ll have his in-depth knowledge and long-term experience in this segment close to our clients and brokers in Latin America.”

Bruno Laval, regional manager Iberia and Latin America of XL Group’s insurance operation, added: “Najib’s expertise will be of great value not only to our clients and brokers, but also to the entire financial lines team in our region. His move to Sao Paulo underscores the potential of Latin America’s financial lines market as well as XL’s commitment to the important Brazilian market.”