XL Insurance, the global insurance operations of XL Group, has appointed Michael Garceau as new chief operating officer (COO) of its North America Property & Casualty (P&C) unit.
He will join XL Insurance on 8 November 2010, reporting to Seraina Maag, XL Insurance’s chief executive of the North America P&C Unit. Garceau will be based in New York.
In this new role, Garceau will manage the operational functions supporting XL Insurance’s North America P&C business. Those business units include property, excess & surplus, environmental, excess casualty, international casualty, US risk management, upper middle markets, North America programs as well as XL GAPS, its loss prevention consulting group.
His responsibilities will include coordination of various support operations intended to drive greater efficiencies throughout XL Insurance’s North American P&C underwriting units.
To assure that operational functions are aligned to execute XL Insurance’s business strategy, Garceau will guide the allocation and development of support resources, oversee expense, performance and IT management, as well as take the lead in the budget & planning process, implementation of strategic projects and uncovering growth opportunities across North America.
Garceau will join XL Insurance from Zurich Financial Services where he served as senior vice president and head of North American underwriting support and service.
Prior to his two-year tenure with Zurich, Garceau held financial management positions with Chubb Specialty Insurance over the last decade, including his most recent position as chief financial officer.