Search
 

XL chief is trimming hedge fund wagers in $38 billion portfolio

XL is among insurers including AIG and MetLife Inc. that have shrunk allocations to hedge funds after years of high fees and performance that lagged benchmarks.

By Sonali Basak | Updated on February 14, 2018
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.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

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

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2025 ALM Global, LLC. All Rights Reserved.