XL Group Ltd announced a string of senior role changes in connection with what the insurer called a “planned realignment” of its property and casualty operating model, all of which will be effective January 1, 2017.

Paul Brand, currently the chief underwriting officer, insurance, will lead a new internal innovation team, Accelerate. Greg Hendrick, currently chief executive of reinsurance, will assume the new role of president, property and casualty, overseeing XL’s entire P&C operation.

And Charles Cooper, currently chief executive reinsurance, Bermuda will assume Mr Hendrick’s current role as chief executive of reinsurance.

XL, which is based in Bermuda and which acquired Catlin for around $4.2 billion in May last year, said the new P&C organisational structure will consist of four business groups: Global Lines, International and North America groups in Insurance, and global Reinsurance.

As part of the reorganisation, Kelly Lyles, currently chief regional officer, insurance, will assume the new role of chief executive client and country management, responsible for global broker management and for oversight of country leadership.

Mike McGavick, XL’s chief executive officer, said: “The operating model we put in place at the time of our integration was highly successful, as we retained business and talent beyond our expectations.

“Now, in line with our commitment to make it better, we’re realigning our operations to simplify decision-making and to create clearer leadership and accountability.

“Wherever possible, underwriting decisions will be closer to the client and broker and with a simplified review process giving us a greater ability to respond to market opportunities and drive innovation. But, importantly, our fundamental strategy remains the same as will the vast majority of XL Catlin colleagues our clients and brokers work with today.

“Much of this realignment originated with Paul Brand and his vision for how we might accelerate innovation and at the same time simplify our core businesses. Accordingly, I couldn’t think of a better candidate to help collect and accelerate our ongoing innovation initiatives. Without question, innovation of our core P&C product requires a blend of fundamental underwriting knowledge and a forward looking perspective.

“And, in this new model Greg Hendrick is the ideal candidate to lead our core P&C operations. He has led both Insurance and Reinsurance, and has been instrumental in developing the company’s longstanding strategy.”

Mr Brand will be responsible for leveraging efforts like the Company’s ongoing innovation and ‘insuretech’ efforts, including relationships through XL Innovate, the XL-backed venture capital fund; the company’s sponsorship of Oxbotica, a leader in autonomous systems development; the work with BlueMarble micro insurance; and internal product innovation.

Joe Tocco, currently chief executive, Americas, will become chief executive North America, insurance.

Jason Harris, currently chief executive, global casualty will become chief executive international, insurance, while Doug Howat, currently chief executive energy, property and construction, will become chief executive global lines, insurance.

Neil Robertson, currently chief executive global specialty, will become chief executive insurance underwriting; Paul Shedden, currently head of insurance pricing and analytics who will become chief executive, insurance pricing and analytics; and Mark van Zanden, currently chief executive Ceded Re, will become chief executive, P&C underwriting capital management.