Clemmons quits XL Weather; resigns WRMA presidency

Lynda Clemmons, president and chief operating officer of Connecticut-based XL Weather & Energy, has left the weather risk and energy trading company. XL officials said Clemmons did not renew her employment contract and that they do not know her future plans.

Lynda Clemmons
Photo: Stephen Sullivan
The Washington DC-based Weather Risk Management Association (WRMA) said Clemmons has also resigned as president of the trade body.

Jeff Bortniker, chief executive of XL Weather & Energy, has also left the company, officials confirmed. Again, XL is unaware of Bortniker's plans.

Robert Lusardi, chief executive of XL Financial Products and Services, has stepped in to replace Bortniker on an interim basis. David Shea, chief financial officer of XL Financial Products and Services, becomes acting XL Weather & Energy chief operating officer.

Clemmons was a co-founder of XL Weather & Energy – previously known as Element Re – and executed the world's first weather derivative transaction in 1997 when she worked at Enron, where she headed the global weather risk management trading business. It is unclear if Clemmons has moved to a rival weather risk company, or whether she has left the market all together. Clemmons could not immediately be reached for comment.

WRMA director Valerie Cooper told RiskNews' sister publication Energy Risk that XL Weather & Energy would continue its membership of the association.

John Polasek, vice-president of origination and structured products at Houston-based Entergy Koch Trading, was named as WRMA’s president. He was previously WRMA vice-president and has also served as the association’s treasurer.

As a result of Polasek’s appointment, Brian O’Hearne, chief executive of Kansas-based GuaranteedWeather will serve as WRMA’s vice-president.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here