Breaking will be offline for scheduled maintenance Saturday, July 24 5 AM EST to 8:30 AM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.
XL Group Ltd. Chief Executive Officer Mike McGavick. (Photo: Bloomberg)

(Bloomberg) – XL Group Ltd., the insurer with about $38 billion of investments, is reducing its exposure to hedge funds, Chief Executive Officer Mike McGavick said.

“We still do see some value there, but at this time we’ve seen it advantageous to rotate some of that money into different classes,” McGavick said Wednesday at an industry conference in Miami, without specifying which assets he was buying. “That has helped us with our investment yield.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.