McGavick Elected ABIR Board of Directors Chair

November 29, 2012

The Association of Bermuda Insurers and Reinsurers [ABIR] has elected its new officers for a two year term beginning on January 1, 2013.

Mike McGavick, CEO of XL Group plc was elected as Chair of the ABIR Board of Directors. He succeeds Arch Capital Limited’s President and CEO Constantine Iordanou who has now completed a two year term as ABIR Chair.

Elected as first Deputy Chair is Neill Currie, CEO of Renaissance Re Holdings Ltd. Elected as Second Deputy Chair is Stephen Catlin, Chief Executive, of the Catlin Group.

Brad Kading, ABIR President and Executive Director, noted that Mr. Iordanou’s leadership had been greatly valued by the membership as he guided the association at a critical time during the Bermuda Monetary Authority’s build out of its group supervision framework and enhancements to its prudential supervision regime. Mr. Iordanou guided the association through important meetings with European policy makers and through important consultations on systemic risk with the International Association of Insurance Supervisors.

The Association represents 20 Class 4 property and casualty insurers and reinsurers with principal underwriting operations in Bermuda. The association members wrote collectively $65 billion in global gross written premiums [CY 2011] on a capital base of $90 Billion. Attesting to the global nature of the business, premium income was collected from businesses in more than 100 countries. The members of the association employ 34,000 globally.

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Comments (2)

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  1. plato says:

    Great choice
    It was mcgavick who saved xl from almost certain death 5 years ago and gave it renewedlife to bring xl back to its solid health today

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    • formidable deviant says:

      ...Until he moved back to the States like all the other CEOs. Shouldn't the Chair of ABIR actually live here? Its ok though because his deputy Stephen Catlin lives here. Oh, sorry, he lives in London. Both very successful people, but would, say, the Association of American Insurers hire a Chairman who lived in Bermuda. I didn't think so.

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