XL Catlin taps Zurich exec to expand Canadian operations
Re/insurer XL Catlin has opened its first political risk, credit and bond (PRCB) insurance practice in Canada, and appointed Marvin Azzopardi as senior underwriter.
Based in Toronto, Azzopardi will report to Richard Abizaid, regional product leader, Americas. Azzopardi will be tasked with leading the continued growth of PRCB business in Canada through partnering directly with Canadian clients and their brokers.
Azzopardi joins XL from Zurich where he led the Canada credit and political risk underwriting team.
"We are very excited to open our first Canada-dedicated Political Risk, Credit and Bond underwriting practice," said Dan Riordan, global head of PRCB. "Marvin’s specialized background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from both private and public sectors."
XL Catlin’s PRCB team offers broad coverage products for banks, investors, export credit and public-sector multilateral agencies investing in mid and high risk regions. The policies can align with the duration of strategic investments, with tenors of up to 20 years and market leading limits of up to $200 million.
Nick Greggains, CEO and country manager for XL Catlin, Canada, added: "The opening of our first Canada-based XL Catlin PRCB underwriting practice further strengthens our capabilities to partner with our key brokers, banks and investors who see the unique growth opportunities at home and abroad. Marvin is an expert in his field and an excellent addition to our team of talented Canadian underwriters."
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