(Bloomberg) -- XL Group Plc Chief Executive Officer MikeMcGavick said employees who are worried about disruption from hiscompany’s planned purchase of Catlin Group Ltd. should think twiceabout jumping ship.
Other reinsurance deals, including last month’s agreement byAxis Capital Holdings Ltd. to merge with PartnerRe Ltd., havecreated some “turmoil” in the market, McGavick said on a conferencecall.
“If you thought your situation was the only difficult situationaround, and therefore it became tempting to go to some otherorganization and feel safer, I don’t think that mentality is goingto be very much in play right now,” McGavick said late Monday.“It’s going to be difficult to go somewhere where you’re safe fromall of this, because I think it’s going to take a while to playout.”
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