31 July 2014News

XL strengthens product recall team in Asia

XL has strengthened its insurance operations in Asia with the transfer of Ben Sharp, product recall underwriter.

XL says the transfer demonstrates the company’s commitment to manufacturers in the region, highlighting its ability to cater for the growing demand for product recall insurance especially among the food and beverage industry.

Food safety, in particular, is an issue of growing importance and complexity in Asia. Several high profile food safety incidents have caused concern among consumers, governments and the food industry alike.

Mitigating risk in the region will be made challenging by the expected emergence of new food regulations and the requirement for companies to maintain  globally recognised standards and good corporate governance. Progress is being made through multi-sector collaboration in Asia, especially across ASEAN, and there is increasing awareness across the supply chain of the importance of food safety and quality, but the risks are ever-present.

Sharp is transferring from London and is now based in Singapore. The move is in line with XL’s strategy to further add capacity and capability to its operations across Asia Pacific, strengthening the company’s team of first tier, experienced underwriters and other insurance professionals.

David Guest, XL’s underwriting manager, crisis management, based in Singapore says: “We have geared our product recall insurance coverage and crisis response to meet the increasing operational, regulatory and reputational risks that our clients face. Ben has invaluable expertise in helping companies understand the risks they face and deliver insurance solutions to protect their business and long term profitability.”

Sharp joined XL in April 2012, and started his career at Arthur J. Gallagher (UK) Ltd working for over five years as a broker in the global casualty team focusing on product recall.