XL Insurance Announces New Developments In Global Insurance Aerospace Operations
London, England - March 06, 2006
LONDON, ENGLAND March 6, 2006 -- David Duclos, Chief Operating Officer for XL Capital Ltd's ("XL") insurance operations ("XL Insurance"), today announced changes within XL Insurance's global aerospace business.London-based Peter Bilsby has been appointed Chief Underwriting Officer of XL Insurance's Aerospace operations, which has underwriting teams in the UK and the US.Mr. Bilsby, who joined the XL Capital Group last year as head of the non-US Aviation insurance operations, has 20 years of experience in the aerospace industry. He was named one of the "40 under 40 People to Watch" by Business Insurance magazine in October 2004."Peter will work closely with our new US team to continue our strategic commitment to be a leading global insurance provider for the aviation and space industries," said Mr. Duclos. Mr. Bilsby will also continue in his role as head of non-US Aviation with the integral support of Rod Mearing, Senior Class Underwriter for London.Meanwhile, Christopher O'Gwen, formerly of United States Aviation Underwriters, Inc. (USAIG), has been appointed Regional Manager of the XL Insurance US Aviation team. He is joined by Class Underwriter Thomas Callahan Jr., also of USAIG, and Class Underwriter Eric Donofrio, formerly of Willis in New York. XL Insurance recently relocated its US Aviation operations from Santa Barbara California to New York, where members of the new US team are well known in the market and have approximately 40 years of combined underwriting and broking experience.Derek Webb has also joined the London Aviation team this week as Global Manager. Mr. Webb, who reports to Mr. Mearing, has 30 years of experience in the broking market, including 20 years at Willis where he held posts in management and sales in the US, UK, and Asia. He will work closely with London-based Class Underwriter Chris Collins.The global Aerospace unit is part of XL Insurance's Specialty Insurance operations and provides a broad spectrum of coverage for major and regional airlines as well as for aviation service providers around the world. They also provide coverage for satellites (at launch and while in orbit) and general aviation.Dermot O'Donohoe, Chief Underwriting Officer of XL Insurance Specialty Insurance operations, commented: "Our Aerospace group is well respected for the expertise and capacity they bring to the market. I believe these new appointments can help make our operations even stronger while we continue to provide clients and brokers with the high level of service and support they expect from XL Insurance companies."XL Capital Ltd, through its operating 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, 2005, XL Capital Ltd had consolidated assets of approximately $58.4 billion and consolidated shareholders' equity of approximately $8.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com.
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