XL Acquires Unicorn Underwriting to Strengthen Equine Capabilities

November 19, 2009

XL Insurance, the global insurance operations of XL Capital, announced “the strengthening of its equine capabilities” with the acquisition of an underwriting and claims team from London-based Unicorn Underwriting Limited, a subsidiary of THB Group plc.

“The team of five is headed by Guy Morrison who has over 20 years of underwriting experience in the international equine insurance market,” said the bulletin. He becomes the Chief Underwriting Officer of Equine, heading XL Insurance’s global equine operations with underwriting centers in London, and in Kentucky in the U.S.

XL Insurance added that it has “also agreed to service the book of bloodstock business formerly underwritten by Unicorn.”

Neil Robertson, Chief Underwriting Officer for Global Specialty at XL Insurance commented: “The appointment of Guy Morrison and his team further strengthens our capabilities and commitment to bloodstock insurance. The team has a wealth of global equine underwriting and claims handling expertise, particularly in the London market. We are especially pleased to have worked closely with Unicorn in ensuring a continued quality service for its existing brokers and customers.”

James Truscott, Managing Director of Unicorn, described joining XL as “extremely satisfying and a deal in “which all parties win.
XL Insurance’s global equine operations “offer a broad spectrum of bloodstock coverage including mortality, theft, specialized perils, barrenness/prospective foal, stallion availability, infertility and loss of income,” the bulletin added.

Source: XL Insurance – www.xlcapital.com

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