XL Group CEO Michael McGavick has been elected as the new chairman of the board for the Association of Bermuda Insurers and Reinsurers (ABIR), effective January 2013.He succeeds Arch Capital Ltd’s president and CEO Constantine (Dinos) Iordanou who has now completed a two-year term as ABIR chair.Elected as first deputy chair is Neill Currie, CEO of Renaissance Re Holdings Ltd and Catlin Group CEO Stephen Catlin has been elected as second deputy chair.The Association represents 20 Class 4 property and casualty insurers and reinsurers with principal underwriting operations in Bermuda.The association members wrote collectively $65 billion in global gross written premiums in 2011 on a capital base of $90 billion. Attesting to the global nature of the business, premium income was collected from businesses in more than 100 countries. The members of the association employ 34,000 globally.Brad Kading, ABIR president and executive director, said: “Mr Iordanou’s leadership had been greatly valued by the membership as he guided the association at a critical time during the Bermuda Monetary Authority’s build-out of its group supervision framework and enhancements to its prudential supervision regime.“Mr Iordanou guided the association through important meetings with European policymakers and through important consultations on systemic risk with the International Association of Insurance Supervisors (IAIS).”