XL Group Announces Retirement of Jacob Rosengarten, Chief Enterprise Risk Officer, and names Fielding Norton as Successor
HAMILTON, Bermuda, Jan. 3, 2018 /PRNewswire/ -- XL Group Ltd ("XL" and together with its subsidiaries, the "Company") (NYSE: XL) today announced that Jacob Rosengarten, Group Chief Enterprise Risk Officer ("CERO"), retired effective December 31, 2017. Fielding Norton ("Fid"), who previously held the position of Deputy Chief Enterprise Risk Officer, has been appointed as his successor, subject to Bermuda immigration approval.
Prior to joining XL in 2010, Mr. Norton was Chief Risk Officer for Ironshore, having previously served in a variety of risk management leadership roles. He holds a Bachelor of Science from the University of Kansas, a Masters in Applied Physics and a Ph.D. in Earth & Planetary Sciences from Harvard University.
Since joining the Company in 2008, Mr. Rosengarten developed and oversaw its Enterprise Risk Management framework and related processes ("ERM"). Mr. Rosengarten will continue with the Company on a part-time basis, working as an advisor to Stephen Robb, XL's Chief Financial Officer.
Commenting, Mike McGavick, Chief Executive Officer of XL, said: "On behalf of our Leadership Team and our Board of Directors, I'd like to thank Jacob for his many contributions to XL and for his role in establishing and growing our enterprise risk management processes and for establishing XL as a thought leader in this space. The ERM insights which Jacob pioneered at our company have been wide ranging and impactful. They were fundamental to our successful navigation of the financial crisis, the successful integration of Catlin, and, more recently, to the approval by the Bermuda Monetary Authority, XL's group supervisor, for the use of a full internal model. While I find it personally bittersweet to no longer be working with Jacob in the same capacity, I'm glad we'll continue to benefit from his insights in his new role and pleased for him that this transition comes at a time of his choosing to create more time for his family.
Mr. McGavick continued: "It is very gratifying that our deep bench strength allows us to fill this critical role from within. Fid is a widely respected ERM leader with broad and deep experience across the spectrum of existing and emerging risks facing a company such as ours, with its broad global reach. He has worked closely with Jacob and the Leadership Team which will make this a smooth transition for all involved."
About XL Group Ltd
XL Group Ltd (NYSE: XL), through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit www.xlgroup.com.
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