Hendrick to succeed Duclos at head of XL Insurance
Greg Hendrick is to take over from Dave Duclos as chief executive of XL Group’s insurance operations from the start of next year, the company announced yesterday.
Mr Duclos, who has headed the insurance segment since 2008 is due to retire on December 31.
Mr Hendrick, currently XL’s executive vice-president, strategic growth, will assume the new position on January 1, 2012.
Mr Duclos will continue as a consultant to XL through 2012 to advise on and assist with the transition.
XL CEO Mike McGavick said: “I want to thank Dave for his dedication and leadership throughout his tenure at XL. In an ever changing industry, Dave has played an integral role in guiding and positioning XL for the future. We are sorry to see him go, but wish Dave well on his well-deserved retirement and in all future endeavours.
“At the same time, I’m thrilled to announce that one of XL’s sharpest talents, Greg Hendrick, will be assuming the leadership of our insurance segment, following Dave’s retirement.
“With over 17 years at XL, as an underwriter, a head of one of our most successful reinsurance businesses, and most recently as the head of strategy for the entire enterprise, Greg has distinguished himself. For the past year he has led the Fresh Start review of each of our underwriting businesses, examining and helping align the strategy for each book.
“In this new role, I believe that Greg’s continued influence on our insurance operations will serve us well as XL’s success continues.”
During his career with XL, Mr Hendrick has held various senior leadership positions including president and chief underwriting officer of XL’s Bermuda-based reinsurance company, senior vice-president and chief property underwriter for Bermuda reinsurance operations and vice-president and underwriter of XL Mid Ocean Re.
As the head of XL’s Office of Strategic Growth since October 2010, Mr Hendrick has been responsible for guiding XL’s strategic planning, focused on enhancing the company’s operational efficiencies and further growing XL’s underwriting businesses.
The strategy portfolio will be shared among Mr Hendrick, Sarah Street, XL’s chief investment officer, and Jamie Veghte, chief executive of XL’s reinsurance segment.