XL Catlin opens new practice in Canada, appoints lead underwriter

Insurer creates political risk, credit and bond practice to meet Canadian needs

XL Catlin opens new practice in Canada, appoints lead underwriter

Risk Management News


XL Catlin announced on Tuesday that it is opening its first Political Risk, Credit and Bond (PRCB) insurance practice in Canada, and has appointed a lead underwriter for the unit.

The insurer said in a release that its decision was to address the continued demand for the product in the region.

Marvin Azzopardi was tapped by XL Catlin to serve as the practice’s senior underwriter.

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“We are very excited to open our first Canada-dedicated Political Risk, Credit and Bond underwriting practice,” said XL Catlin PRCB global head Dan Riordan. “Marvin’s specialized background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from both private and public sectors.”

Starting June 01, Azzopardi will be based in Toronto and will report to Americas regional product leader Richard Abizaid. He will be tasked with “leading the continued growth of the PRCB business in Canada through partnering directly with Canadian clients and their brokers.”

Azzopardi was previously associated with Zurich, where he led the Canada Credit & Political Risk underwriting team. He is a graduate of York University. Azzopardi earned his CRM designation from the University of Toronto.

“The opening of our first Canada-based XL Catlin PRCB underwriting practice further strengthens our capabilities to partner with our key brokers, banks and investors who see the unique growth opportunities at home and abroad,” commented XL Catlin Canada CEO and country manager Nick Greggains. “Marvin is an expert in his field and an excellent addition to our team of talented Canadian underwriters.”

Related stories:
XL Catlin shakes up M&A proposition
XL Catlin appoints global chief underwriting officer from Swiss Re

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