XL Group has appointed Leila Madeiros as head of compliance and regulatory affairs, Bermuda. She will join the global insurance and reinsurance company in April 2018.
Madeiros will report to XL Group's Chief Compliance Officer and Head of Government & Regulatory Affairs Sean McGovern and will be a member of the leadership team. Her responsibilities will include providing both strategic and operational compliance and regulatory affairs support to XL Group in Bermuda, leading the company's interactions with its group supervisor, the Bermuda Monetary Authority (BMA).
She will also support engagement within the Association of Bermuda Insurers and Reinsurers (ABIR), where she currently holds the position of senior vice president, deputy director and corporate secretary. She will also work as part of XL Group's team on international regulatory and policy issues.
Madeiros has worked for ABIR for the past 12 years. During that time, she led ABIR's efforts in Bermuda, specifically managing ABIR's policy development work related to Bermuda's efforts to ensure that the BMA's regulatory regime is equivalent to international standards. In particular, she led ABIR's efforts with regard to the Bermuda Solvency II equivalency project.
Prior to joining ABIR, Madeiros was deputy director of policy, research and communications at the Bermuda Monetary Authority (BMA) directing the formulation and dissemination of appropriate policies, strategies, and information for the BMA. She also served in various capacities as a Bermuda insurance regulator with the Registrar of Companies Department (prior to 2002, the agency charged with insurance supervision in Bermuda). She developed her insurance expertise working at Heddington Insurance Limited in Hamilton, Bermuda and London, U.K. before becoming an insurance regulator.