XL Catlin names regional product leader for UK and Ireland

XL Catlin’s insurance unit has appointed Andrew Underwood as regional product leader, UK and Ireland for political risk and trade credit.

Underwood has over 25 years of experience in the insurance industry, having most recently held the position of partner at Hiscox, after serving in senior roles in both the US and the UK.

Most recently he held the position of Partner at Hiscox after serving in senior roles in both the US and the UK. He began his career with Swire Fraser Insurance Brokers.

Dan Riordan, XL Catlin’s global head of political risk and trade credit, said: “Andrew is an excellent addition to our global team. As a first rate underwriter, he has the leadership skills and proven track record for successfully and sustainably growing books of business.

“Today, around the world we are seeing heightened tensions both economic and geopolitical. At the same time, there are serious concerns about security and terrorist activity. This situation is driving demand for political risk and trade credit coverages, and with our strong balance sheet, market leading limits of up to $200 million per risk, and policy term of up to 15 years, we are able to respond to this demand in a way which is meaningful to our clients.”

Andrew McMellin, XL Catlin’s UK chief executive, added: “In the globalised world we live in, companies operating across borders face multiple risks. Exporters, manufacturers, financial institutions - the list goes on - are all looking to the insurance industry to protect their investments and assets. In doing so insurers are key facilitators of world trade. We are aware of the important role these insurance solutions play and that is why we have very significant underwriting capacity available and have invested further in our talented team with the appointment of Andrew.”