XL Group Ltd. announced that Jacob Rosengarten, group chief enterprise risk officer, retired effective Dec. 31, 2017. Fielding (Fid) Norton, who previously held the position of deputy chief enterprise risk officer, has been appointed as his successor, subject to Bermuda immigration approval.
Prior to joining XL in 2010, Norton was chief risk officer for Ironshore, having previously served in a variety of risk management leadership roles. He holds a Bachelor of Science from the University of Kansas, a Master of Science in Applied Physics and a Ph.D. in Earth & Planetary Sciences from Harvard University.
Since joining the company in 2008, Rosengarten developed and oversaw its enterprise risk management (ERM) framework and related processes, XL Group said in a statement, noting that Rosengarten will continue with the company on a part-time basis, working as an adviser to Stephen Robb, XL’s chief financial officer.
“On behalf of our leadership team and our board of directors, I’d like to thank Jacob for his many contributions to XL and for his role in establishing and growing our enterprise risk management processes and for establishing XL as a thought leader in this space,” commented Mike McGavick, chief executive officer of XL.
“The ERM insights which Jacob pioneered at our company have been wide ranging and impactful. They were fundamental to our successful navigation of the financial crisis, the successful integration of Catlin, and, more recently, to the approval by the Bermuda Monetary Authority, XL’s group supervisor, for the use of a full internal model,” McGavick added.
“Fid is a widely respected ERM leader with broad and deep experience across the spectrum of existing and emerging risks facing a company such as ours, with its broad global reach. He has worked closely with Jacob and the leadership team which will make this a smooth transition for all involved.”
Source: XL Group Ltd