XL Group has named Greg Hendrick, currently its executive vice president of strategic growth, as CEO of XL's insurance segment effective 1 January 2012.

Hendrick succeeds Dave Duclos who is planning to retire in December 2011.

Duclos will continue as a consultant to XL through 2012 to advise on and assist with the transition.

During his career with XL, Hendrick has held various senior leadership positions including president and chief underwriting officer of XL’s Bermuda-based reinsurance company, senior vice president and chief property underwriter for Bermuda reinsurance operations and vice president and underwriter of XL Mid Ocean Re.

XL CEO Mike McGavick said that with over 17 years at XL, as an underwriter, a head of one of their most successful reinsurance businesses, and most recently as the head of strategy for the entire enterprise, Greg has distinguished himself. For the past year he has led the Fresh Start review of each of their underwriting businesses, examining and helping align the strategy for each book.