McGavick Elected Geneva Association Chairman
Leaders of the world’s top insurers elected XL CEO Michael McGavick as Chairman of The Geneva Association with immediate effect.
Mr McGavick takes over from Dr Nikolaus von Bomhard who steps down by statutory requirement after four years as Chairman. Mr McGavick was proposed to the Membership by The Geneva Association’s Board of Directors and received unanimous approval.
Mr McGavick has been CEO of XL Group plc since 2008 and a Board Member of The Geneva Association since June 2011. From 2001 to 2005, he was Chairman, President and CEO of Safeco Corporation. Prior to joining Safeco, Mr McGavick spent six years with CNA Financial Corporation, where he held various senior positions, including president and CEO of the company’s largest commercial insurance unit. He has been involved in a number of industry, political, public affairs and community service activities.
Mr McGavick is also currently Chair of the Association of Bermuda Insurers & Reinsurers and of the Global Reinsurance Forum. He is also on the board of the American Insurance Association, the Insurance Information Institute and the International Insurance Society.
Commenting on his appointment, Michael McGavick added, “The internationalisation of the insurance industry and the rapidly developing risk landscape mean that the Association’s role as a think tank and forum for industry discussion is more important than ever. I look forward to working with the industry’s leaders in addressing the challenges and opportunities we face.”
The Geneva Association describes itself as the leading international insurance think tank for strategically important insurance and risk management issues.
The Geneva Association membership comprises a statutory maximum of 90 chief executive officers from the world’s top insurance and reinsurance companies. Its members have total assets of more than US$11.7tn, are headquartered in 27 countries around the world and employ more than 2 million people who serve customers in more than 140 countries.
