Euler Hermes appoints Farrell managing director of excess of loss

Trade credit insurer Euler Hermes has appointed Peter Farrell as managing director of excess of loss (XoL) for the Americas region.

XoL, a non-cancellable form of credit insurance, provides flexible and innovative solutions to insulate companies from extraordinary and disruptive loss events.

Farrell joined Euler Hermes in 2013 as a member of the original team that led the development of the company's first XoL product offering. During his tenure, he has held several roles with increased responsibility in new business and renewal underwriting, leadership and product development.

In his most recent position as vice president and head of XoL/Duo new business, Farrell has overseen underwriting and marketing initiatives for all non-cancellable new business in the US, Canada and Brazil.

In his new role, he will steer the company's non-can XoL line of business, lead a team of XoL underwriters to deliver growth within the XoL portfolio.

Farrell joined Euler Hermes from Zurich North America, where he built expertise in credit risk underwriting for its excess of loss product.

James Daly, CEO at Euler Hermes North America, said: "Peter's outstanding product and industry knowledge, coupled with his collaborative leadership approach, set him and the team up for success. I have every confidence that Peter and the team will carry forward the strong legacy of partnership and trust that your partners have come to expect from Euler Hermes."

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