Mr. Veghte commented: "I am pleased that John has accepted the position of President and COO of XLRA. He has a broad range of experience in the actuarial, underwriting, strategic planning and finance disciplines. John is ideally suited to assume this leadership role at XLRA, and I also welcome him to XL's Reinsurance Executive Group, which provides overall strategic direction to the Company's global reinsurance operations."
Mr. Welch began his career in Aetna Life and Casualty's Actuarial Department in 1987. He joined XLRA in 1997 and has held a variety of positions, including Chief Actuary and, most recently, Head of Casualty and Surety Underwriting. Mr. Welch graduated from Fairfield University.
XL Re is the global brand used for XL Capital Ltd's reinsurance operations. The XL Re companies have offices in 14 countries. More information about the XL Re companies is available at www.xlre.com. XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of September 30, 2005, XL Capital Ltd had consolidated assets of approximately $54.9 billion and consolidated shareholders' equity of approximately $7.0 billion. More information about XL Capital Ltd is available at www.xlgroup.com.