XL Capital announces promotions in Insurance Operations
HAMILTON, BERMUDA - February 19, 2002
Hamilton, Bermuda (February 19, 2002) - XL Capital Ltd (NYSE: XL) ("XL") announced today that William (Bill) Kronenberg III, Chief Executive Officer for the environmental and programs operations, has promoted two senior executives.Richard T. Corbett, formerly Executive Vice President of ECS Underwriting, has been named President of ECS, Inc., XL's specialist environmental underwriting unit, reporting to Bill Kronenberg. Mr. Corbett joined ECS in 1999 after 20 years with Zurich Commercial and Chubb Corporation.Jefferey S. Lejfer, CPCU, currently Executive Vice President of ECS Strategic Services, has been appointed President of XL Programs, reporting to Kronenberg. Mr. Lejfer served at ECS since 1991 in a variety of executive positions. Prior to joining ECS, he spent 13 years with AIG in various management and underwriting positions.Commenting on the promotions, Bill Kronenberg said: "I look forward to continuing to work with Rich in his broader role and to further expanding ECS's outstanding reputation as a world leader in providing integrated environmental risk management services. Under Jeff's stewardship, I am confident that XL Programs will continue to find attractive niche program opportunities."In addition, James F. Splain has been promoted to Executive Vice President, Risk Control at ECS and Randall E. Hobbs, Esq., to Executive Vice President, Claims at ECS, both reporting to Rich Corbett. Richard Callahan will become Executive Vice President, Strategic Planning for XL Programs, reporting directly to Jeff Lejfer.Nicholas Brown, Jr., Chief Executive Officer of XL's insurance operations, said: "ECS and XL Programs have been important contributors to the profitable growth of XL's insurance operations. Today's actions provide added focused management strength to these growing businesses. I am confident that Bill and his senior management team will continue to identify promising opportunities available in the dynamic and global insurance market."ECS is an underwriting manager providing integrated environmental risk management solutions to business and industry worldwide. ECS meets the diverse needs of its customers through insurance, risk control and claims management. XL Programs writes $300 million in specialty program business through several of XL's U.S. based insurance companies, Greenwich Insurance Company, Indian Harbor Insurance Company and XL Specialty Insurance Company, which are rated A+ (Superior) [XV] by A.M. Best and AA (Very Strong) by Standard & Poor's. Additional information is available at www.ecsinc.com.XL Capital Ltd, through its wholly owned subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of December 31, 2001, XL Capital Group had consolidated assets of approximately $28 billion and consolidated shareholders' equity of approximately $5.4 billion. More information about XL is available at www.xlgroup.com.
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