Reporting to Michael Pado, President of XL Re Life America Inc., Mr. Lassow will be responsible for XL Re Life America’s quoting activity, product development, underwriting and sales and marketing and treaty development.
Mr. Lassow joins XL Re Life America from Liberty Life Assurance of Boston. His professional career also included management positions with Connecticut Mutual, Monarch Financial Services, Connecticut National Life and Tillinghast/Towers Perrin. Mr. Lassow is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries and a Chartered Life Underwriter.
Mr. Carlson’s professional career includes positions with DFA Capital Management, Transamerica Reinsurance and Allianz Life. He is an active volunteer of the American Academy of Actuaries where he has held leadership roles on a number of projects and was co-chair of the Life Products Committee. Mr. Carlson is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.
Commenting on the appointments, Mr. Pado said: “Richard and Eric’s product development expertise in Life, annuity and long-term care products complements XL Re Life’s existing team of reinsurance specialists. Collectively, the team will be invaluable as we explore ways which we can help Life companies meet their evolving reinsurance needs.“
“Life companies are changing the way that they reinsure,” Mr. Pado continued. “When XL Re Life America entered the US market in 2006, there was a real demand for creditworthy capacity for traditional Life reinsurance and that demand continues. Today there is also a growing demand for alternative approaches to addressing a company’s risk management needs and also for more non-traditional Life reinsurance products. Meeting that demand requires a well-capitalized company, a solid team of reinsurance professionals and the operational capability to execute and implement agreements. This is what XL Re Life offers in this market.”
XL Re Life America Inc. offers reinsurance capacity for individual Life reinsurance and in force portfolios on a yearly renewable term or coinsurance basis, as well as individual reinsurance capacity on a facultative basis. The company also supports the worksite and Company-Owned Life Insurance (COLI) market segments. The company carries an A.M. Best financial strength rating of A (Excellent).
XL Re Life operations are an underwriting division of XL Capital Ltd. Through its operating subsidiaries, XL Capital Group is a leading provider of global insurance and reinsurance coverages and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of June 30, 2007, XL Capital Ltd had consolidated assets of approximately $60.2 billion and consolidated shareholders’ equity of approximately $11.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com