McGavick Will Not Run For U.S. Senate
Mike McGavick, chief executive of Bermuda-based re/insurer XL , has no plans to stand for election to the U.S. Senate next year, according to a Reuters report.
“I have no political ambitions whatsoever, my ambitions are all about what XL can become,” he told Reuters. “We’re having a lot of fun, it’s a great time in the market.”
Mr McGavick ran unsuccessfully for Senate in 2006, losing to the incumbent Democratic U.S. Senator Maria Cantwell.
Reuters said, “Analysts have said speculation he might quit his position as XL boss to stand again next year was negative for the group’s shares.”
