XL Group hires Bermuda compliance chief from ABIR

XL Group has hired Leila Madeiros from the Association of Bermuda Insurers and Reinsurers (ABIR) as head of compliance & regulatory affairs, Bermuda. She will join the the company in April.

Madeiros has worked for ABIR for the past 12 years, most recently as senior vice president, deputy director and corporate secretary. During her tenure she led ABIR’s efforts in Bermuda, specifically managing its policy development work related to Bermuda’s efforts to ensure that the BMA’s regulatory regime is equivalent to international standards. In particular, she led ABIR’s efforts with regard to the Bermuda Solvency II equivalence project.

In her new position, Madeiros will report to Sean McGovern, XL Group’s chief compliance officer & head of government & regulatory affairs and will be a member of his leadership team. Her responsibilities will include providing both strategic and operational compliance and regulatory affairs support to XL Group in Bermuda, leading the company’s interactions with its group supervisor – the Bermuda Monetary Authority (BMA), and supporting engagement within ABIR. She will also work as part of XL Group’s team on international regulatory and policy issues.

McGovern said: “Leila is highly regarded for her experience and wealth of knowledge of the Bermuda market and international regulation and policy. We look forward to her strengthening the solid relationships that we have established over the years with regulators and policymakers in Bermuda and internationally.”

Prior to joining ABIR, Madeiros was the deputy director of policy, research and communications at the BMA directing the formulation and dissemination of appropriate policies, strategies and information for the BMA. She also served in various capacities as a Bermuda insurance regulator with the Registrar of Companies Department (prior to 2002, the agency charged with insurance supervision in Bermuda). She developed her insurance expertise working at Heddington Insurance in Hamilton, Bermuda and London, UK before becoming an insurance regulator.

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