HAMILTON, Bermuda, Dec. 22, 2010 /PRNewswire-FirstCall/ -- XL Group plc (NYSE: XL) ("XL" or the "Company") announced today that it has appointed Simon Rich as Senior Vice President, Global Treasurer.
Mr. Rich previously served as Senior Vice President, Corporate Controller for the Company. In his new role, he will continue to report to XL's Chief Financial Officer, Irene M. Esteves. As Global Treasurer, Mr. Rich will be responsible for policies, information, analyses and implementation of funding and capital management, credit ratings agency relationships, short-term asset and liquidity management, Treasury operations and foreign currency exposure management of XL Group plc and its subsidiaries globally.
Mr. Rich has held various progressively senior leadership positions since joining XL in 2001, including Finance Director and Treasurer of XL London Market Ltd, Senior Vice President Finance for XL's insurance segment and Corporate Controller from 2005 to 2010. Prior to joining XL, Mr. Rich worked in the financial services practices of Coopers & Lybrand and PricewaterhouseCoopers, where he specialized in insurance companies, insurance brokers and funds management.
XL's former Senior Vice President, Accounting Policy and SEC Reporting Officer Stephen Robb will assume the role of Senior Vice President, Corporate Controller. Mr. Robb, who has been with XL for more than six years and has contributed significantly to many major corporate initiatives in that period as well as to XL's efforts to meet global accounting and regulatory requirements, will be responsible for the direction of XL's corporate financial close, reporting and control functions. Before joining XL, Mr. Robb held several progressively senior roles at PricewaterhouseCoopers, including Senior Manager, Insurance Industry Group Leader.
Commenting on the appointments, Ms. Esteves said: "These appointments demonstrate the depth and breadth of talent within XL. I look forward to working closely with Simon and Steve to enhance XL's global finance function in further support of the Company's strategic growth plans."
XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. Its principal executive offices are located at No. 1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. More information about XL Group plc is available at www.xlgroup.com.
Carol Parker Trott
SOURCE XL Group plc