In his new role, Mr. Sprott will oversee all Marine classes, reporting to Paul Drake, Active Underwriter designate of Syndicate 1209, and to Steve Cullen, head of XL Insurance's Marine & Offshore Energy division. Mr. Sprott will also continue as Class Underwriter for the Marine and Energy Liabilities account. Having begun his career in 1987 in Sedgwick's Marine department, Mr. Sprott joined AIG's Marine underwriting team in 1997 and in 1999 moved to XLLM as deputy Class Underwriter for Marine and Energy Liabilities. In 2000, he was appointed Class Underwriter.
Mr. Talbot will be responsible for an account covering Marine Hulls and associated interests in a portfolio which includes many of the world's foremost ship owners and managers. Mr. Talbot has 35 years experience in the London market, 18 of which have been at Lloyd's. He will report to Mr. Colin Sprott. Mr. Talbot joined XLLM in September 2001 as Deputy Hull Underwriter. Prior to that, he was Deputy Underwriter for Syndicate 483 and also served in the Marine department at Royal & Sun Alliance before transferring to Lloyd's Syndicate 633 Barder & Marsh in 1986. Mr. Talbot is a Fellow of the Chartered Insurance Institute and served on the Joint Hull Committee from 1996 - 1999.
Mr. Dermot O'Donohoe, XLLM Chief Executive Officer designate, said: "Both Colin and Michael have demonstrated exceptional capability in managing our classes of business. With their experience and knowledge, we are confident that they can continue to further develop our marine account and I am pleased to welcome them in their new roles."
XLLM recently announced the appointments of Mr. O'Donohoe and Mr. Drake as Chief Executive Officer and Active Underwriter of Syndicate 1209, respectively. Both appointments are subject to Lloyd's and FSA approval.
XLLM is one of Lloyd's leading Managing Agencies with syndicate capacity of over $500 million. The XL London Market Syndicate offers underwriting expertise and market leadership in various lines of business, particularly the marine disciplines of Hull, Liabilities, Offshore Energy and Cargo; Specie; Bloodstock; International Aviation; and War and Political Risk.
The ultimate parent company of XL London Market Ltd is XL Capital Ltd, which, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial, and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of March 31, 2004, XL Capital Ltd had consolidated assets of approximately $44.2 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.