XL Insurance to provide primary Directors and Officers' insurance across Europe

London, England - June 15, 2004

LONDON, ENGLAND, June 15, 2004 - XL Europe Limited, an XL Capital Ltd company (NYSE:XL) ("XL"), announced today that XL's worldwide professional lines operation, XL Insurance Professional, is to offer primary Directors & Officers (D&O) liability insurance coverage in Europe in addition to its excess coverages, effective immediately.The announcement was made at the Association of Insurance and Risk Managers' (AIRMIC) annual conference, taking place in Manchester, England.XL will use its own proprietary policy form, available in several languages (Dutch, English, French, German and Swiss German) to offer meaningful capacity on a selective basis.Chief Executive of XL Insurance Operations, Clive Tobin, said: "We are positioning ourselves to be a one-source provider of coverage relevant to our risk management clients and D&O is an increasingly important focus for corporations. We want to demonstrate our continuing commitment to position XL's insurance segment companies as leaders in the global risk management business by bringing meaningful capacity to bear on D&O programs."Chief Underwriting Officer, XL Professional Lines, Rich Banas, said: "This is a natural evolution in Europe where we have built a strong reputation for providing coverage on an excess basis. We believe this will be welcomed by many clients who have been looking for choices in the primary area, and we intend to be able to offer our capacity on a primary basis whilst maintaining our disciplined underwriting philosophy."XL Europe Limited is an XL Capital Group company licensed in Dublin, Ireland and is the company through which XL writes Directors & Officers', Professional Indemnity and Employment Practices Liability in Europe. XL Europe Limited is fully admitted as an authorised insurer under the European Union's single insurance market. 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 March 31, 2004, XL Capital Ltd had consolidated assets of approximately $44 billion and consolidated shareholders' equity of approximately $7.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.Please note that this release describes insurance coverage that is subject to underwriting analysis and may not be available in all jurisdictions. The above description is neither a complete description nor a complete list of all terms, conditions and exclusions, and only the provisions of a specific policy have legal effect. Certain terms used in the above description are defined in the policy.