XL Insurance expands its US aviation team
XL Insurance, the global insurance operations of XL Capital Ltd., has announced the expansion of its US aviation underwriting team with the opening of an aviation branch office in San Francisco and an addition to its New York-based underwriting staff.
XL Insurance, through XL Specialty Insurance Company, has appointed Mark Sacco as officer, class underwriter, with the addition of Karl Jorda as assistant vice-president, class underwriter to its New York-based underwriting team.
Both Mr. Sacco and Mr. Jorda will report to Eric Donofrio, North American regional manager for XL Insurance's aviation unit. Mr. Donofrio said: "Our technical underwriting skill and industry knowledge form the foundation of our success and we continue to build on it. Our clients will surely benefit from Mark and Karl's industry experience and underwriting skill.
"They are valuable additions to our North American team, especially as demand for our general aviation coverage continues to grow. They add additional strength and knowledge to an already accomplished team."
"With Mark working from our San Francisco office, we are also pleased to give our west coast brokers and clients more local access to our experienced in-house underwriters. We will continue to add additional staff to our San Francisco team in the coming months."
Christopher O'Gwen, XL Insurance's chief underwriting officer for global aerospace, said: "Last year was a challenging one for the aviation insurance industry. At a time when the industry needs it most, we are pleased to bring together a skillful and knowledgeable global underwriting and claims team to address our insureds' risk management concerns with quality coverage and claims handling expertise."
Mr. Jorda brings more than 20 years of aviation insurance experience to XL Insurance, most recently working as chief underwriting officer of aviation for Britt Paulk. His career also includes various underwriting management positions with AXA and United States Aircraft Insurance Group.
Mr. Sacco joins XL Insurance from Marsh, where he worked for three years as a vice-president in the aviation group. Prior to this position, he spent more than nine years as a general aviation underwriter with United States Aircraft Insurance Group in both Denver and San Francisco.
The Ace Group of companies has announced the appointment of John Lupica to chief operating officer of insurance - North America.
In this expanded role, Mr. Lupica will have responsibility for the company's commercial property and casualty insurance operations in North America, including its Ace Westchester excess and surplus lines franchise, and a newly-formed small business unit - Ace Commercial Risk Services® - in addition to his current role as president and CEO of Ace USA, the company's North America retail operating division.
Mr. Lupica, who is based in Philadelphia, will continue to report to Brian Dowd, CEO of insurance - North America and vice-chairman of Ace Ltd. and Ace Group Holdings.
In addition, Jamie English has been appointed chief operations officer for all of Ace's North America commercial and personal property and casualty insurance businesses, reporting to Mr. Dowd. In this new role, Mr. English will oversee systems, operations and other support functions to ensure the efficient deployment of technology and underwriting platforms.
"John and Jamie have both exhibited strong leadership throughout their tenures with Ace," said Mr. Dowd. "They have provided thoughtful and strategic guidance in delivering profitable growth through Ace USA and ACE Westchester. "I have the utmost confidence in their ability to lead these critical units and position Ace for future growth."
Mr. Lupica has more than 20 years of insurance industry experience, and has held several executive management roles at ACE since joining the company in 2000, including serving as president of ACE professional risk and president of Ace USA regional operations.
With more than 20 years of insurance industry experience, including 13 years at Ace, Mr. English most recently served as president of Ace Westchester programs, where he led the company's specialty programs, agricultural and crop hail business produced through managing general agents and program administrators.
Independent Management Ltd. has announced that Peter Strong, a former principal of the company, will return as a consultant.
Cyril Whitter, president and CEO of the company, said: "Peter's extensive experience in all aspects of insurance and reinsurance in the North American, London and international markets, as well as his experience in the captive management business, will be invaluable as we seek to execute the company's long term growth strategy".
Mr. Strong arrived in Bermuda in 1969 to work for Arthur Young and Company after training as an accountant in London. He has amassed more than 40 years of experience in the Island's insurance industry, obtaining Bermuda citizenship.
Mr. Strong formed what was to become Independent Management Ltd. in 1979. In the ensuing years he built a staff of insurance and accounting professionals specialising in the management of re/insurance companies. The company today provides full management services for single parent, agency, association and multiple owner captive, as well as non-captive re/insurance companies.