QBE’s underwriting team has resurfaced at rival XL Insurance with Richard Maxwell brought in as chief underwriting officer of the firm’s new political risk and trade credit unit.

Maxwell was global head of structured trade and political risk at QBE until the company closed the division following a staff walkout in early September.

He moves to XL with many of his QBE team.

Maxwell helped in QBE’s acquisition of his old firm, Exporters International Inc., in 2008.

Over a 30-year career, he has held positions at the Export-Import Bank of the US, Euler American Credit Indemnity and American Express Bank, among others.

At XL, Maxwell will report to Neil Robertson, chief executive of global specialty.

“Political unrest plays out in the news every day, adding to businesses’ global risk management concerns,” says Robertson.

“Managing such complex and ever-changing risk requires the right talent and Richard and his team are among the best underwriting and analytical talent in this specialty market. Under Richard’s leadership and with his team’s proven track record in developing profitable business, we have set our sights on becoming a leading provider of political risk and trade credit.”