(Bloomberg) -- XL Group Plc Chief Executive Officer Mike McGavick said employees who are worried about disruption from his company’s planned purchase of Catlin Group Ltd. should think twice about jumping ship.
Other reinsurance deals, including last month’s agreement by Axis Capital Holdings Ltd. to merge with PartnerRe Ltd., have created some “turmoil” in the market, McGavick said on a conference call.
“If you thought your situation was the only difficult situation around, and therefore it became tempting to go to some other organization and feel safer, I don’t think that mentality is going to be very much in play right now,” McGavick said late Monday. “It’s going to be difficult to go somewhere where you’re safe from all of this, because I think it’s going to take a while to play out.”
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