XL Group creates new reinsurance division for emerging markets

XL Group plc (NYSE: XL) has created a new reinsurance division focused on emerging markets.

The new Reinsurance Global Emerging Markets unit will be led by Philippe Rochaix, who was already in charge of the Latin America Reinsurance operations for the company.

The unit will form part of XL’s newly-named International Reinsurance business group under David Watson, the Business Group Leader and CEO on XL Re Europe.

Marcus Gonzales and Bertrand Romagne, who manage XL’s United Kingdom and France reinsurance branches, respectively, will also be part of the group.

Prior to his current role, Watson led XL’s European, Asia Pacific and Middle East and North Africa (MENA) operations since 2006. Before that, he was General Manager of XL’s London Reinsurance operations.

Prior to leading XL’s Latin America Reinsurance operations, Rochaix served as General Manager of XL’s Reinsurance French branch and he also served as Chief Underwriting Officer of XL’s Reinsurance branch in Singapore.

“XL has had a strong presence in Latin America and Asia for many years,”  James H. Veghte, CEO of XL’s Reinsurance Operations noted in the company’s announcement.

“The establishment of a dedicated Reinsurance Global Emerging Markets unit underscores the increasing importance of these markets and our commitment to serving them,” he added. “Both David and Philippe have the knowledge and experience to ensure that XL continues to meet the growing needs of emerging markets to the highest standards.”