XCHANGING S PLACING PLATFORM GOES LIVE WITH FIRST RISK HOWARD GLOBAL AND XL GROUP FIRST TO DELIVER ELECTRONIC TRADE

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1 PRESS RELEASE 03 June 2014 XCHANGING S PLACING PLATFORM GOES LIVE WITH FIRST RISK HOWARD GLOBAL AND XL GROUP FIRST TO DELIVER ELECTRONIC TRADE LONDON, 03 June 2014 Xchanging plc, the business process, procurement and technology services provider, has today announced that its E-Placing Platform has successfully facilitated an electronic risk placement involving Howard Global and XL Group s insurance operations. Xchanging s Placing Platform (XPP), formed in partnership with Web Connectivity and TIW, is powered by Web Connectivity s market leading Message Management Tool (MMT), already used by over 80 percent of the market s carriers. The platform, which utilises TIW s iplace service, is attracting market attention as a low risk, easy to adopt utility that is supported by the market s existing infrastructure. Key Benefits of the Xchanging Placing Platform Provides single version of truth for electronically agreed contracts and eliminates errors in maintaining physical documentation and data Low commercial risk and adoption costs through low upfront investment and pay-as-you-go pricing options Document collaboration features enhance effectiveness of face-to-face interactions and make documents available earlier Reduces the frictional cost of placing and the extended paper trail Minimises disruption by leveraging investment in current broker and carrier systems and using existing infrastructure Xchanging Page 1 of 5

2 Martin Spencer CIO, Howard Global, commented, The process was simple and efficient and, based upon our experience and the willingness of our markets to participate, we are committing to putting more risks through the platform. Allison Goddard, Market Reform Consultant, XL Group, said: This represents an exciting step forward for the insurance industry and we are extremely pleased to have been at the forefront. The system has been built and robustly tested so the actual process of electronically placing the first risk went according to plan: once Howard Global sent us the risk, our underwriters were ready, willing and able to accept it at the touch of a button. The documentation, complete with electronic scratch was then sent to our back office directly, streamlining the process and time spent on data processing. Ms Goddard concluded: This is a lot more than just an efficiency gain; it has huge ramifications for the way the market transacts business in terms of speed and accuracy. We are looking forward to seeing how the initiative develops in the future for the benefit of the whole industry. Max Pell, MD, Xchanging Insurance, commented, Xchanging s Placing Platform is based upon proven infrastructure and solution elements combined under a single set of services to facilitate Electronic Placing. We are pleased to be working with industry leaders TIW and Web Connectivity in developing our platform. Pell concluded, We are delighted that Howard Global and XL Group has taken this inaugural step, and we are looking forward to working with the London and international markets as we expand volumes on the platform. ENDS 2014 Xchanging Page 2 of 5

3 For further information, please contact: Rachel Russell PR and External Communications Manager Direct phone: +44 (0) Mobile: +44(0) Jenny Rushforth Global PR Manager Direct: +44 (0) Mobile: +44 (0) Lansons Jeena Nadarajan Direct phone: +44 (0) Emma Beresford Direct phone: +44 (0) HOWARD GLOBAL INSURANCE SERVICES LIMITED Howard Global is proud of the reputation it has built as an independent Lloyd s broker focusing on providing our clients with the best quality Bloodstock, Accident and Health, Life, Property and Casualty and Facilities insurance across the world. Experience, service and flexibility underpin our ability to attract and retain clients. We believe our specialist focus and independence allow us to develop unique long term relationships and detailed understanding of our clients requirements to enable them to concentrate on what is important to them with the knowledge that their insurance requirements are being managed by trusted professionals Xchanging Page 3 of 5

4 About XL Group plc s Insurance Operations XL Group plc s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance. About XL Group plc XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit XL Group is the global brand used by XL Group plc s insurance and reinsurance subsidiaries. Xchanging What we are Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries. What we do Xchanging brings innovation, thought leadership and passion to its customers businesses so as to enhance performance and value. Our values are embedded into everything we do. What we want to be Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation. Xchanging What we are Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries Xchanging Page 4 of 5

5 What we do Xchanging brings innovation, thought leadership and passion to its customers businesses so as to enhance performance and value. Our values are embedded into everything we do. What we want to be Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation Xchanging Page 5 of 5