XL Insurance Announces Formation of Global Product Development Team
HAMILTON, BERMUDA - April 10, 2008
Hamilton, Bermuda – April 10, 2008 - XL Insurance, the global insurance operations of XL Capital Ltd (NYSE: XL) (“XL”), today announced the formation of a global Product Development team to further address customers’ risk management needs.The team will work with XL Insurance business units, customers, and brokers to identify, develop and implement innovative new products. They will also evaluate existing products and identify opportunities for enhancement.Mr. Nigel Mortimer, based in Bermuda, has been appointed as Senior Vice President and Director of Product Development for XL Insurance. In addition, Mr. William (Bill) Burrows, based in Hartford, Connecticut, has been appointed as Vice President of New Product Development – North America and Mr. Laurence Flynn, based in London, U.K., has been appointed as Vice President of New Product Development – U.K. & Ireland. An additional hire will be made in Europe to build out the team.John R. Glancy, XL Insurance’s Chief Underwriting Officer, commented: “Having a team dedicated to product development will help us to improve service to our customers by offering better risk products on a global basis, supported by XL Insurance’s superior customer responsiveness and financial security. The team will build on our past successes while aiming to convert new ideas into meaningful products. Nigel, Bill and Laurence have market knowledge and underwriting expertise that will benefit both our internal and external customers.”Mr. Mortimer has extensive experience having worked on new products and product expansions throughout his career. He joined XL Insurance in 2003 as a senior Casualty underwriter in Bermuda and was promoted to underwriting manager in 2006. Prior to joining XL Insurance, he held several Casualty management roles with Zurich Financial Services in Australia and the UK. Before this, he worked for Chubb Insurance in New York and London.Mr. Burrows joined XL Insurance in November 2007 after serving as a national industry manager for The Hartford's Middle Market segment, where he developed new products and launched and managed the Financial Services industry programs. Previously, he managed and underwrote Property, Casualty, Specialty and Professional lines of coverage for Chubb's Department of Financial Institutions in New York City, New Jersey and Philadelphia.Mr. Flynn joined XL Insurance in October 2006 as a client relationship manager. Prior to that, he was a client director for Marsh Limited in Milton Keynes, U.K., where he managed a portfolio of major public and private sector clients. He was also a manager and underwriter in the Property and Casualty underwriting departments at Chubb Insurance, based in London and Reading, U.K.About XL Insurance "XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance and its products are available at www.xlinsurance.com. Through its operating subsidiaries, XL Capital Group is a leading provider of global insurance and reinsurance coverage and services to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at www.xlgroup.com.
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