Bermuda Aviation Services appoints Williams as COO

XL ratings

FRIDAY, SEPTEMBER 23: AM Best has affirmed its ratings for XL.

XL Group (Ireland), led by XL Insurance (Bermuda) Ltd, maintains its financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of ‘a’ for its property/casualty subsidiaries.

The ICR of ‘bbb’ for XL, XL Group Ltd (Cayman Islands) and the debt ratings for XL Group Ltd also remain in place.

The outlook for all ratings is stable.

A statement from XL said: “Although XL subsidiaries’ property/casualty operating results are unprofitable through the first six months of 2011 (with a combined ratio of 110 per cent due to the worldwide catastrophes), the group averaged a favourable combined ratio of 92.3 per cent for the previous five years.

“AM Best remains encouraged by the strategies implemented by the XL management team.”

The company said that by de-risking its investment portfolio, it has “successfully reduced the level of market volatility”.

Scholarship

The Bermuda Employers’ Council (BEC) is inviting applications for its $5,000 Malcolm Dixon Scholarship Award.

Candidates must be studying human resources/ labour relations management. They must submit their applications by October 31. Go to www.bec.bm.

Ironshore appoints

Ironshore Inc has appointed Adam Witten as vice president and regional executive for its Southwest region. Mr Witten joined the company last year as assistant vice president of IronPro.

He has more than 12 years’ experience in the insurance industry and will be based in Los Angeles.

BAS names COO

Bermuda Aviation Services Ltd has promoted Frank Williams to group chief operating officer.

Mr Williams started his career with BAS in 2001, working for BAS-Serco, of which he became vice president and CEO in 2008.

The next year he also headed Otis Bermuda Ltd.

Ken Joaquin, BAS CEO, said: “Frank is a welcome addition to the BAS executive team.

“His education and varied work experiences make him a strong all-round manager.”