XL Group announces Kidnap and Ransom insurance capability

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XL Group today announced its Crisis Management team’s new capabilities to provide insurance cover for Kidnap & Ransom risks.

In doing so it has negotiated an exclusive contract with one of the world’s foremost risk consultancies which will support the team’s Kidnap & Ransom business. This new approach will enable clients to use the services of Terra Firma Risk Management LLP who will provide specialist Kidnap & Ransom response capabilities and crisis management consultancy advice.

To help deliver its new Kidnap & Ransom offering, XL Group has appointed Charlie Matheson as Senior Underwriter in London and Jonathan Beck as Senior Underwriter in Guernsey.

Additionally, XL Group has exclusively engaged the Salamanca Group to provide crisis management consultancy advice to its War, Terrorism and Political Violence business that sits alongside the new Kidnap and Ransom team in the Crisis Management division.

XL Group has been steadily building a team of underwriters worldwide since appointing Stephen Ashwell as Chief Underwriting Officer for Crisis Management at the beginning of 2013. The fast growing team has a remit to provide integrated crisis management risk solutions for corporate clients and High Net Worth individuals (as appropriate across XL’s various legal entities).

Commenting Mr. Ashwell said: “As businesses and the global market become increasingly interconnected, companies operating worldwide are looking to insurers to provide a joined-up solution for their people and assets.

“The risks are complex and interwoven and this new insurance approach considers the challenges to people, property and business interruption and underpins this cover with best in class crisis management and response capabilities from Terra Firma Risk Management and Salamanca Group.  This strategy is central to the Crisis Management team’s business model and our underwriters are building a compelling and holistic insurance solution for our clients across the world.”

Mr. Matheson joins XL Group from JLT Specialty Limited where he worked from 2004, and headed the Kidnap and Ransom team since 2009. At XL Group he is based in London and reports to Stephen Ashwell.

Mr. Beck joins XL Group from Hardy where he worked from 2011 and led their Kidnap & Ransom underwriting business.  At XL Group he is based in Guernsey and reports to Stephen Ashwell.

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 www.xlgroup.com

XL Group is the global brand used by XL Group plc’s insurance and reinsurance subsidiaries.

About Terra Firma Risk Management LLP

Terra Firma Risk Management is one of the most experienced and stable response companies working in today’s special risks market.  Its advisors have handled over 600 cases of kidnap, extortion, wrongful detention, contamination and piracy, have over 200 combined years of risk and crisis management experience and have a presence on 5 continents around the world.  To learn more, visit www.terrafirma-rm.com.

About Salamanca Group

Salamanca Group are a Merchant Banking and Operational Risk Management business with over 10 years’ experience of enabling business,  protecting assets and growing capital without limiting operations and lifestyles. To learn more, visit www.salamanca-group.com

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