XL appoints North American chief executive

XL has promoted Joseph Tocco to chief executive of North American property and casualty.

Prior to joining XL in 2011, Tocco was head of the North American property group at Zurich Financial Services. He previously served as a nuclear field service engineer in the US Navy for nine years.

Tocco will continue to be based in New York and will report to Greg Hendrick, chief executive of XL’s insurance operations.

Hendrick said: “Joe’s long track record of running successful underwriting operations, strong broker/client relationships and proven leadership skills make him a natural choice to lead our P&C operations in North America. After a thorough internal and external search for this critical position, we are excited that we found our leader within XL, and we look forward to Joe's continued contributions."

Ken Riegler, head of XL’s North America primary casualty business, will take on the additional responsibility of leading the North American distribution and network.

Prior to joining XL in 2011, Riegler served as president of ACE USA’s foreign casualty and North American multi-national client groups. Based in New York, he will report to Tocco.

Hendrick said: “Ken is the leader of one of our top insurance businesses and his expertise and experience will ensure that XL has a world-class distribution organization in North America. By working closely with Joe, Ken’s strategic capabilities will now benefit all of NAPC’s businesses.

“With these organisational moves XL is poised for even greater success in North America. Both Joe and Ken have been key members of a team that have proven track records of driving profitable growth. We take great pride in our ability to not only attract the world’s best talent, but to develop and promote that talent as well. I am confident that the increase in responsibility for both Joe and Ken will accelerate our progress.”