Mr. Bilsby, who has close to 20 years experience of insurance broking and underwriting and was recently named by Business Insurance magazine as one of the "40 under 40 People to Watch", will lead a team of four specialists who will underwrite the Aviation account for XLLM Lloyd's Syndicate 1209 and XL Insurance's other European entities. The account focuses on international Aviation business outside the USA and includes Airline, Products, Deductible and War coverages.
Other members of the new team are Rod Mearing, Chris Collins and Alex Davies. They will take up the posts of Class Underwriter, Deputy Class Underwriter, and Underwriting Assistant, respectively.
Charles Rudd, Chief Executive of XL Insurance's space and aviation operations, said: "XL Insurance is dedicated to servicing the aviation insurance market with individuals of the highest calibre. The expertise and market experience of the new members of the aviation team demonstrate this commitment. Peter and his colleagues will clearly strengthen our Lloyd's platform. This combined with our U.S. underwriting team also demonstrates that we have first-rate global aerospace capabilities and that we are a world leader in the market."
Paul Drake, Active Underwriter of Lloyd's Syndicate 1209, added: "I am delighted that a team of this calibre will be joining us and believe that their experience and knowledge will ensure that XL London Market will continue to offer our current high level of service. There are no plans to make any significant changes to the existing structure of Syndicate 1209's Aviation account and the new team will work closely with several members of the existing Aviation department so we expect our customers will enjoy a seamless transition to the new team as we strengthen and broaden our aviation business."
About XL Insurance
XL Insurance is the brand name of XL Capital Ltd's (NYSE: XL) ("XL") global insurance operations. XL Insurance, through its own operations and network of fronting partners, offers primary to excess cover in multiple products in approximately 65 countries.
XLLM is one of Lloyd's leading Managing Agencies with syndicate capacity of over $500 million. The XL London Market syndicate 1209 offers underwriting expertise and market leadership in various lines of business, particularly the marine disciplines of Hull, Liabilities, Offshore Energy and Cargo; Specie; Equine; 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 September 30, 2004, XL Capital Ltd had consolidated assets of approximately $46.8 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd and XL Insurance is available at www.xlgroup.com and www.xlinsurance.com.