Top 20 spotlight - 20. XL Insurance

Group Head Office XL House 70 Gracechurch Street London EC3V 0XL Tel: 020 7933 7000 www.xl...

Group Head Office

XL House

70 Gracechurch Street

London EC3V 0XL

Tel: 020 7933 7000

www.xlinsurance.com

A YEAR IN THE NEWS

OCTOBER - DECEMBER 2005

- October: Expands its London-based fine art and specie unit with the appointments of Michael Moss, David Scully, Clare Pardy, Susie Collier and Mark Bosshard.

- October: Fitch Ratings downgrades ratings of parent XL Capital and its property and casualty reinsurance subsidiaries by one notch.

- November: XL Capital announces a net third-quarter loss of $1.05bn (£595m), following the impact of Hurricanes Katrina and Rita.

JANUARY - MARCH 2006

- January: Pulls out of joint venture with Ace into Sovereign Risk Insurance.

- January: XL Capital appoints Eileen McCusker as chief operating officer for the UK and Ireland regions.

- January: XL Capital opens a representative office in Beijing, and announces plans to start an insurance joint venture in Brazil with Banco Itau.

APRIL - JUNE 2006

- April: XL Capital announces a management restructuring, with the current president and chief executive officer, Brian O'Hara, taking a back seat.

- April: XL Insurance launches a directors' and officers' product, which is specifically tailored to UK directors in light of "greater shareholder activism".

JULY - SEPTEMBER 2006

- July: Security Capital Assurance, the credit reinsurer being spun off from XL, announces the terms of its impending New York Stock Exchange initial public offering.

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