LONDON and NEW YORK, Aug. 11, 2014 /PRNewswire/ -- To address businesses' growing interest in Trade Receivables Insurance (TRI), XL Group is adding underwriting resources with the appointments of Jennifer Papadimitriou in London; Paul C. Haigley III and Aaron Rutstein in Baltimore and Agatha Liberatore in New York.
XL Group's Trade Receivable Insurance products provide flexible and cost-effective protection for businesses of all types against non-payment on their accounts receivable.
"Political and economic instability can occur with little warning, and for businesses, there are often direct consequences such as the inability to receive payments from customers cut off by sanctions or impacted by other factors," according to Richard Maxwell, Chief Underwriting Officer and Global Head for XL Group's Political Risk and Trade Credit (PRTC) business, which includes its Trade Receivables business line. "We see evidence of political instability in the news regularly and it is increasing businesses' concerns and interest in using credit insurance to protect against the risk of non-payment from their customers."
Commenting on the appointments, Jeffrey Abramson, head of XL Group's TRI business added: "To meet our customers' growing demand, we are making an investment in some of the top talent in this industry. With the addition of Agatha, Paul, Jennifer and Aaron, our expanded team is ready to provide Trade Receivables Insurance on a global basis, utilizing XL Group's global network and significant capacity."
XL Group establishes its TRI underwriting capabilities in Europe with the addition of Ms. Papadimitriou as Senior Underwriter in its London office. Bringing more than 20 years of international trade credit and receivables underwriting experience to XL Group's team, she most recently served as Head of International Trade Credit for AIG.
Senior underwriters Paul Haigley and Agatha Liberatore will address businesses' Trade Receivable insurance needs in the Americas. A 25-year veteran of the trade receivables insurance industry, Mr. Haigley joins XL Group from Euler Hermes World Agency where he most recently served as Vice President and Regional Director of Account Management for the Americas. Ms. Liberatore joins from FCIA Management Company, where as senior risk manager for the Midwest region, she managed an international trade credit and political risk portfolio for 15 states.
With more than a decade of credit insurance underwriting and risk analysis experience, Aaron Rutstein joins XL Group as Risk Manager for TRI. In this role, Mr. Rutstein will manage the team's buyer risk assessments, credit evaluations and portfolio management and oversee XL Group's team of risk analysts in India. He joins from Euler Hermes where he most recently served as credit analyst manager.
To support this enhanced underwriting capacity, XL Group is also adding to its operational infrastructure with new hires in both India and Baltimore.
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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
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SOURCE XL Group