Lloyd’s approves XL syndicate to write political risk

Make text smaller Make text larger


XL Group announced Friday that Lloyd’s has granted them approval to write political risk and trade credit risks using the company’s Lloyd’s syndicate 1209.

The company also announced the global expansion of its Political Risk and Trade Credit (PRTC) team with the addition of Mark Haughton as vice-president and senior underwriter at its Asia hub in Singapore.

“As businesses look for new growth opportunities in all parts of the world, we’re looking to support their strategies to ensure that their plans and profitability are not hindered by political unrest, default of payment, embargoes, governmental expropriation, or other situations beyond their control,” said Richard Maxwell, XL Group’s global head and chief underwriting officer for PRTC.

“The ability to write our risks on the Lloyd’s platform expands our existing global underwriting capability and now allows us to serve clients from more than 200 countries across the world. We are delighted to give our clients more flexibility and choice in terms of where to place their risks while relying on the knowledge and experience of our expert underwriting teams.”

Mr Maxwell said the appointment of Mark Haughton is the key to building a knowledgeable team of professional.

“We aim to become a leading provider of political risk and trade credit services worldwide. To do so we have cultivated a knowledgeable team of professionals such as Mark,” he said. “With our underwriting teams working closely together out of New York, London and now Singapore — and with the ability to write Political Risk and Trade Credit on the Lloyd’s platform, we are well situated to address our clients’ needs in all corners of the global marketplace.”

Mr Haughton brings 13 years of international banking and trade credit risk management experience specifically in Australasia. He joins XL Group from Standard Chartered Bank in Singapore where he was director of trade credit insurance Pplacements. His experience extends across a broad range of product disciplines including origination and relationship management, project finance, trade finance and securitisation while previously having held management positions at Sumitomo Mitsui Banking Corporation and National Australia Bank.

Joe Blenkinsopp, deputy global head of the PRTC unit based in London, will assume the role of PRTC class underwriter of XL Group’s Lloyd’s Syndicate 1209 at Lloyd’s of London, managed by XL London Market Ltd.

You must be registered or signed-in to post comment or to vote.

Published Jun 25, 2012 at 8:23 am (Updated Jun 25, 2012 at 8:23 am)

Lloyd’s approves XL syndicate to write political risk

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

Take Our Poll

  • Do you believe the SAGE Commission will ultimately prove to have been a waste of time and money?
  • Yes
  • 50%
  • No
  • 41%
  • Don't know
  • 9%
  • Total Votes: 1608
  • Poll Archive

Today's Obituaries

View all Obituaries Place an obituary

Facebook Activity