XL Catlin Offers Political Risk, Credit & Bond Insurance in Canada; Zurich’s Azzopardi Named Lead U/W

XL Catlin has opened its first Political Risk, Credit and Bond (PRCB) insurance practice in Canada and has appointed Marvin Azzopardi as senior underwriter.

Based in Toronto, Azzopardi, will join XL Catlin on June 1 and will report to Richard Abizaid, regional product leader, Americas. Azzopardi is tasked with leading the continued growth of PRCB business in Canada by partnering directly with Canadian clients and their brokers.

Azzopardi joins from Zurich where he led the Canada Credit & Political Risk underwriting team. He is a graduate of York University and obtained the Canadian Risk Management (CRM) Designation from the University of Toronto.

“The opening of our first Canada-based XL Catlin PRCB underwriting practice further strengthens our capabilities to partner with our key brokers, banks and investors who see the unique growth opportunities at home and abroad,” said Nick Greggains, CEO and country manager for XL Catlin, Canada.

XL Catlin said its PRCB team offers coverage for banks, investors, export credit and public-sector multilateral agencies investing in mid and high risk regions. Its policies can align with the duration of strategic investments, with tenors of up to 20 years and limits of up to $200 million.

Source: XL Catlin