HAMILTON, Bermuda, June 16, 2011 /PRNewswire/ -- XL Group plc (NYSE:
XL) ("XL" or the "Company") announced today the appointment of
Peter R. Porrino as Executive Vice
President and Chief Financial Officer. Mr. Porrino will join
the Company in late August.
Mr. Porrino, who has more than 30 years of experience working in
and advising the insurance industry, including considerable
property and casualty insurance and reinsurance experience, will
report to XL's Chief Executive Officer, Mike McGavick, and will serve on XL's Leadership
Team.
Since 1999, Mr. Porrino has served as Ernst & Young's Global
Insurance Industry Leader. In that role, he oversees the firm's
worldwide insurance industry delivery of client services, thought
leadership and strategic planning. His experience includes
designing and implementing solutions to improve the use of
financial information, developing strong relationships with the
investor and analyst communities, and business strategy assessment
and deployment.
Commenting on Mr. Porrino's appointment, Mr. McGavick said: "We
are beyond thrilled to have Peter join XL as CFO. Peter's
considerable insurance industry experience, combined with his broad
background in corporate operations and global finance, make him the
ideal addition to XL. As someone I have worked with for a number of
years, I know the benefit we will gain from his strategic insights.
Additionally, as a current advisor to XL, Peter knows the company
and many of our leaders and will hit the ground running. I welcome
Peter to our Leadership Team and look forward to the impact he will
make."
Mr. Porrino, a CPA, first joined Ernst & Young in 1978
serving in the firm's New York and
National insurance practices for 15 years before leaving to serve
in senior management positions with several insurance companies.
This experience includes Zurich Financial Services, where Mr.
Porrino served as CFO of Zurich's
NYSE listed subsidiary, Zurich Reinsurance Centre, Inc. He
rejoined Ernst & Young in 1999.
Mr. Porrino holds an MBA from New York
University and BBA in accounting from Pace University.
About XL
XL was formed in 1986 in response to the unmet risk management
needs of 68 of the world's largest companies. This year, as XL
celebrates its 25th anniversary, it remains the company clients
look to for innovative insurance and reinsurance solutions for
their most complex risks. XL Group plc, 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 on a worldwide basis. Its principal offices are located
at No. 1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. More information about XL Group plc
is available at www.xlgroup.com.
Contact:
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David Radulski
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Carol Parker Trott
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Investor Relations
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Media Relations
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(441) 294-7460
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(441) 294-7290
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SOURCE XL Group plc