Gregory W. Bangs Joins XL Group's Global Professional Team to Launch New Global Crime Insurance Operation

NEW YORK, Dec. 11, 2014 /PRNewswire/ -- To help address businesses' and financial institutions' crime concerns, including embezzlement, fraud, and bribery, XL Group is launching a global Crime business, under the leadership of Gregory W. Bangs who joins the company as Chief Underwriting Officer of Crime Underwriting.

Based in New York, Mr. Bangs reports to Kelly Lyles, Chief Executive of XL Group's Global Professional businesses.  Commenting on Mr. Bangs' appointment, Ms. Lyles said: "We are excited to call Greg a colleague. Under his leadership, we'll bring together our current crime insurance capabilities in the US, Europe, and Asia to form a cohesive underwriting operation. Given Greg's 30 years of experience, including managing one of the market's largest crime insurance operations, we look forward to building out our crime insurance business and developing new crime products that will help our clients protect their business assets, wherever they operate."         

Mr. Bangs joins XL Group from Chubb & Son where he most recently served as vice president and Worldwide Product Manager for Crime, Kidnap & Ransom and Workplace Violence Expense Insurance. Prior to joining Chubb, he held various management, underwriting and product development roles, including positions in the US, London, Paris and Hong Kong during a 20-year-tenure with AIG.  Mr. Bangs is a graduate of Duke University. 

"Like most risks, new commercial and financial institution crime risks continue to emerge, such as social engineering fraud," said Mr. Bangs.  "And, as more entities operate on a global basis, we'll be ready to supply them with insurance coverage that addresses crime risks from a more global perspective.  I'm looking forward to tapping into XL Group's global network and collaborating with XL's professional liability and other business line expertise to develop new crime products that our clients will value."

XL Group's Global Professional businesses include professional liability insurance for directors and officers, financial institutions, architects, engineers and other businesses and service professionals; cyber and technology, commercial crime and fraud, and employment practices liability insurance, among other lines of insurance coverage. 

About XL Group plc's Insurance Operations

XL Group plc's insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance

About XL Group plc

XL Group plc (NYSE: XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.  XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.com

XL Group is the global brand used by XL Group plc's insurance and reinsurance subsidiaries.

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SOURCE XL Group

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