XL Investment Chief Stepping Down to Focus On Alternatives Post Catlin Deal
Sarah Street, XL Group’s chief investment officer for over a half decade, is stepping down from her position to take on a new role to focus on alternative risk transfer structures.
Street will “assist in the further build-out of other alternative capital efforts, and continue to lead key-innovation initiatives,” at XL, according to a Securities and Exchange Commission filing released last week.
Street will retain her position as non-executive chairman of New Ocean Capital Management Ltd, XL’s insurance-linked securities joint venture with Stone Point Capital.
“Having led XL’s Investment Team for the past eight years, Ms. Street had expressed an interest in working in a different role at XL in line with her prior and ongoing strategy and innovation responsibilities,” the filing said
XL spokesperson confirmed the move via email.
The change will occur when XL closes its planned $4.3 billion acquisition of Catlin Group Limited announced January. Street will also “partner” XL’s leadership team to establish the Company’s Strategy Council” when the deal closed, the filing said.
The filing added that Benji Meuli, currently Catlin’s CFO, is expected to assume the role of chief investment officer when the merger closes, according to the SEC filing.
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