XL Insurance, the insurance unit of XL Capital, has completed the purchase of Global Asset Protection Services from Swiss Re.
Global Asset Protection Services (GAPS) is a provider of unbundled loss prevention consulting services, offering individually tailored risk management solutions to risk managers, insurance brokers and insurance company clients.
Tim Heinze, the head of Swiss Re’s GAPS, joins XL GAPS to serve as managing director, reporting to John Gallagher, global property chief underwriting officer for XL Insurance.
Mr Gallagher said: GAPS brings to XL Insurance a 117-year track record of excellence in property loss prevention consulting services and their risk management expertise aligns very well with our commitment to risk quality and sound underwriting principles. XL GAPS will also be able to help our customers to meet their risk management needs with additional product and service offerings from XL Insurance.