NEW YORK, Dec. 11, 2014 /PRNewswire/ -- To help address
businesses' and financial institutions' crime concerns, including
embezzlement, fraud, and bribery, XL Group is launching a global
Crime business, under the leadership of Gregory W. Bangs who joins the company as Chief
Underwriting Officer of Crime Underwriting.
Based in New York, Mr. Bangs
reports to Kelly Lyles, Chief
Executive of XL Group's Global Professional businesses.
Commenting on Mr. Bangs' appointment, Ms. Lyles said: "We are
excited to call Greg a colleague. Under his leadership, we'll bring
together our current crime insurance capabilities in the US,
Europe, and Asia to form a cohesive underwriting
operation. Given Greg's 30 years of experience, including managing
one of the market's largest crime insurance operations, we look
forward to building out our crime insurance business and developing
new crime products that will help our clients protect their
business assets, wherever they operate."
Mr. Bangs joins XL Group from Chubb & Son where he most
recently served as vice president and Worldwide Product Manager for
Crime, Kidnap & Ransom and Workplace Violence Expense
Insurance. Prior to joining Chubb, he held various management,
underwriting and product development roles, including positions in
the US, London, Paris and Hong
Kong during a 20-year-tenure with AIG. Mr. Bangs is a
graduate of Duke University.
"Like most risks, new commercial and financial institution crime
risks continue to emerge, such as social engineering fraud," said
Mr. Bangs. "And, as more entities operate on a global basis,
we'll be ready to supply them with insurance coverage that
addresses crime risks from a more global perspective. I'm
looking forward to tapping into XL Group's global network and
collaborating with XL's professional liability and other business
line expertise to develop new crime products that our clients will
value."
XL Group's Global Professional businesses include professional
liability insurance for directors and officers, financial
institutions, architects, engineers and other businesses and
service professionals; cyber and technology, commercial crime and
fraud, and employment practices liability insurance, among other
lines of insurance coverage.
About XL Group plc's Insurance Operations
XL Group plc's insurance companies offer property, casualty,
professional and specialty insurance products globally. Businesses
that are moving the world forward choose XL as their partner. To
learn more, visit xlgroup.com/insurance
About XL Group plc
XL Group plc (NYSE: XL), through its subsidiaries, is a global
insurance and reinsurance company providing property, casualty and
specialty products to industrial, commercial and professional
firms, insurance companies and other enterprises throughout the
world. XL is the company clients look to for answers to their
most complex risks and to help move their world forward. To learn
more, visit xlgroup.com
XL Group is the global brand used by XL Group plc's insurance
and reinsurance subsidiaries.
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SOURCE XL Group