XL Re Life announced the creation of a new senior position and the appointment of a new president of its U.S. life reinsurance company, Servus Life Insurance Company, soon to be renamed XL Re Life America Inc., pending regulatory approvals.
Andy Batley has become head of Global Business Development for XL Re Life operations and will oversee its business development activity worldwide. He will be based in London and is succeeded by Michael Pado.
Pado, who will report to Batley, joins as president of XL Re Life America Inc. from Transamerica Reinsurance where he served as senior vice president of Sales and Market Research in their Charlotte, North Carolina office. During his 28-year tenure in the life reinsurance and insurance industries, he honed his experience in several leadership positions, serving as president for both Convergence Re LLC and for AXA Re Life Insurance Company. Pado also served as senior vice president of both individual life and non-traditional products for Swiss Re.
XL Re Life America Inc. offers reinsurance capacity for individual life reinsurance and in force portfolios on a yearly renewable term or coinsured basis, as well as individual reinsurance capacity on a facultative underwriting basis. The company carries an A.M. Best financial strength rating of A (Excellent).
Source: XL Capital
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
