Hendrick takes over XL insurance top job

Greg Hendrick is taking over as chief executive of XL’s insurance business.

Hendrick, currently XL’s executive vice president, strategic growth, will take his new role at the beginning of next year.

He replaces Dave Duclos, who is retiring, but will continue as a consultant to XL during 2012 to advise on and help with the transition.

Hendrick has held various senior leadership positions at XL 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.

The strategy portfolio will be shared among Hendrick, chief investment officer Sarah Street and reinsurance chief executive Jamie Veghte.

XL chief executive  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 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.”