XL Reinsurance America Inc., a Stamford, Conn., subsidiary of XL Capital Ltd., said Friday that it had named a chief operating officer to succeed James H. Veghte, who was promoted to chairman and chief executive officer last year.
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John P. Welch, the new chief operating officer, has worked for XL Reinsurance America since 1997, most recently as head of casualty and surety underwriting. He began his career in Aetna Life and Casualty's actuarial department in 1987.
Mr. Welch also joins XL Reinsurance's executive group, the senior officers of the reinsurance division's entities. He reports to Mr. Veghte.
The XL Reinsurance companies have offices in 14 countries. XL Capital Ltd. had consolidated assets of about $54.9 billion at Sept. 30.
