The of XL Group’s North America Property & Casualty (NAPC) insurance business has named Donna Nadeau as its new Chief Operating Officer.
Prior to her promotion, Nadeau served as NAPC’s chief actuary. In her new role, she will oversee the operational functions for NACP’s property, excess & surplus, environmental, construction, excess casualty, and global risk management insurance lines, including U.S. risk management and multinational casualty. Nadeau also will lead NAPC’s budget and planning processes and IT management. Based in New York, the new COO will report to Joe Tocco, NAPC’s chief executive.
According to the Dubline-based XL Group, Nadeau brings broad experience in data analytics to the position. These tools continue to gain traction and importance for the insurance industry. A recent survey of Chief financial officers (CFOs) from North American P&C insurance companies, conducted by professional services company Towers Watson, found that 40 percent are likely to invest in these technologies over the near term.
“In the last few years, Donna dramatically changed how our actuaries work with our business leaders and underwriters and helped deliver data analytics and monitoring tools that help us manage profitability and grow wisely,” Tocco said. “Her incredible analytic skills, knowledge of our businesses, and attention to operational effectiveness will serve our team well as she steps in to our COO role.”
Nadeau assumes the COO role from Mike Garceau, who was recently named CFO of XL Group’s global insurance operations. Since joining XL Group in 2003, Nadeau has held progressively more senior actuarial and management positions. In recognition of her contributions she was named a Managing Director to XL Group’s Leadership Council in May 2014. Prior to joining the XL Group, she held actuarial positions with Kemper Insurance Companies and Liberty Mutual.
A graduate of Boston College, Nadeau is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.
