Major insurer XL Catlin has launched a new team that will focus on alternative risk transfer and non-traditional insurance globally.
The dedicated global underwriting unit, named Structured Risk Solutions (SRS), will provide clients with customised solutions for large and complex risks where there are no traditional insurance products offered by the market.
"We believe the market opportunity for this type of business is significant,” said Paul Brand, chief underwriting officer and chairman of XL Catlin's insurance leadership team.
“Risks are evolving and increasingly clients look to us to find non-traditional and innovative approaches to manage their exposures. We believe we have the expertise and appetite to make a real difference in this space,” he added.
SRS’s offering to clients and brokers includes structured (re)insurance products for captive insurance companies and bespoke risk transfer solutions for new and emerging risks for corporate clients and financial institutions.
Rob Turner, who joined XL Catlin in 2015, has been appointed as global head of SRS. The unit is located in London and across Europe, but it will soon expand to New York.
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