Previously a senior vice president in the unit, Mr. Greggains replaces John Glancy, recently appointed Chief Underwriting Officer of XL Insurance's Global Professional operations. Mr. Greggains will remain in XL Insurance's Exton, Pennsylvania office and will report to Mr. Glancy.
According to Mr. Duclos, "Our Design Professional unit follows a distinct business model focused on the unique professional liability needs of architects and engineers. With his experience and market knowledge, Nick is well-qualified to lead XL Insurance's Design Professional team as it continues to expand and build its position as a market place leader for the design industry."
Mr. Glancy noted: "Nick understands the risks inherent in design and engineering. Equally important to his new position is Nick's understanding of how these risks can be minimized. Our clients have come to rely on our tailored insurance programs and our loss prevention education and claims services that offer valuable strategies to help protect their reputations and profits."
Mr. Greggains joined XL Insurance in April 2003, as Vice President of Global Accounts for its Environmental unit and moved into the position of Chief Underwriting Officer for the Design Professional unit in January 2005. He began his career with Commercial Union (CU) in London, relocating to the U.S. in 1992 to lead CU North America's Global Risk operation.
XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance, reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of December 31, 2005, XL Capital Ltd had consolidated assets of approximately $58.4 billion and consolidated shareholders' equity of approximately $8.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com.