Stephen Catlin, executive deputy chairman of XL Catlin, is set to retire at the end of this year.
As part of his retirement plans, Catlin has notified the company he is not standing for re-election to the board of directors at the upcoming annual general meeting on 19 May.
Catlin will remain in his role until 15 May. From then, he will act as a special advisor to XL’s CEO Mike McGavick until 31 December.
Catlin has also agreed to continue serving as chairman of the Insurance Development Forum, launched in 2016 by leaders of the insurance industry, the UN and the World Bank, and will also work on other related projects.
According to XL Catlin, to “ensure continuity”, Catlin will act as a consultant for XL on these matters from 1 January to 30 September 2018.
Catlin said: "When Mike McGavick and I first discussed combining XL and Catlin, we knew we could create a truly special company. Now, nearly two years after the business combination, with the integration largely completed and XL Catlin running at full steam, it is an appropriate time for me to take the opportunity to step back from an active leadership role within the company. I'm enormously proud of what we have achieved, and I wish McGavick and the XL Catlin team every success with their future endeavours.”
McGavick added: “We are eternally grateful for [Catlin’s] selfless leadership, which was essential to the success of the XL and Catlin combination. I look forward to continuing to work with Stephen Catlin in his new capacity, first as special advisor to me and then as a consultant to the company in relation to the very important work of the Insurance Development Forum.”
