Our History

From 25 years ago to today: XL and industry leaders talk about a quarter century of changing risk — and the way ahead.

Watch Video

The U.S. liability insurance crisis of the 1980s: capacity halved, premiums doubled. Then they doubled again. Nobody was prepared to cover the risks, so nobody was prepared to take them. In 1986, 68 of the world's largest companies came together and founded what is now XL Group to solve complex risks. We managed to unstick what was stuck. We found an answer to the problem. We changed the rules.

  • 2014

    – XL Reinsurance America Inc. acquires Global Ag Insurance 
       Services, a provider of crop insurance in the western US.
    – XL Group announces increase in share buyback program.
       Board authorizes buyback of up to $1 billion of ordinary shares.
    Selected Management Appointments
    – Joseph Tocco, Chief Executive Officer, North America Property and Casualty


    2013

    – XL Group and Stone Point Capital form New Ocean Capital Limited,
       an investment management company focused on insurance-linked
       securities and (re)insurance capital markets products.
    – XL Group plc moves to new offices on St. Stephen’s Green,
       Dublin
    – CEO Mike McGavick elected chairman of the Geneva
       Association
    – XL Group launches Fast Fast Forward, a new online platform for
       commentary, news and tools on risk
    – XL Group creates Asia Pacific region headquartered in 
       Singapore
    – XL Group named Model Insurer of the Year by Celent
    – XL Group opens new insurance office in Manchester, UK
    – XL Group announces expansion of facultative reinsurance
       footprint in US
    – XL Group creates Global Emerging Markets unit within
       Reinsurance Operations
    Selected Management Appointments
    – Andrew Pinkes, Global Head of Claims, Insurance Operations
    – Philip Jacobs, Global Head of Capital Management, Corporate
       Development and Tax


    2012

    – XL Group opens new insurance office in Lyon, France
    – XL Group launches new website
    – XL Group plc announces repayment of $600 million  in XLCFE
       senior notes
    – XL Group obtains final approval to establish Brazil insurance
       operation
    – XL announces new $750 million share buyback program
    Selected Management Appointments 
    – Chris Dougherty, Chief Financial Officer, Insurance Operations
    – Eileen Whelley, Chief Human Resources Officer
    – Jason Harris, Chief Executive, International Property and
       Casualty, Insurance Operations

    2011

    – XL Group launches a rebranding, adopting the single brand
       name XL Group and the Make Your World Go tagline.
    – XL Insurance (Bermuda) Ltd and XL Re Ltd qualify for 
       reduced collateral status in New York.
    Selected Management Appointments
    – Peter R. Porrino, Chief Financial Officer
    Board of Director Appointments
    – Ramani Ayer, Former Chairman and Chief Executive Officer,
       The Hartford Financial Services Group, Inc.
    – Suzanne B. Labarge, Former Vice Chairman and Chief Risk
       Officer, Royal Bank of Canada (RBC Financial Group)

    2010

    – XL Group plc (NYSE: XL), formerly XL Capital Ltd, completes 
       redomestication to Ireland and name change.
    – XL Group establishes Office of Strategic Growth.
    – XL Group announces new $1 billion share buyback program.
    – XL Re Ltd becomes first Bermuda company to qualify as an 
       eligible reinsurer in Florida.
    – XL Group obtains licenses to establish operations in China.
    – XL Insurance launches global claims management system.
    Selected Management Appointments
    – Irene Esteves, Chief Financial Officer
    – Gregory S. Hendrick, Executive Vice President, Strategic
       Growth
    – Charles Cooper, President and Chief Underwriting Officer,
       XL Re Ltd
    – Seraina Maag, Chief Executive Officer, North America 
       Property and Casualty
    – Philippe Rochaix, President and Chief Operating Officer, 
       XL Re Latin America Ltd
    – Patrick Tannock, President of XL Insurance (Bermuda) Ltd

    2009

    – Stock gains 395%, taking the number one spot on the
       S&P 500 Index.
    – XLRe recognized for eCommerce leadership by the 
       Association for Cooperative Operations Research and
       Development.
    – XL receives approval to begin preparing to set
       up a P&C (non-Life) company in China.
    Selected Management Appointments
    – Elizabeth L. Reeves, Executive Vice President and
      Chief Human Resources Officer
    – W. Myron Hendry, Chief Platform Officer
    Board of Director Appointments
    – Clayton S. Rose, Professor of Management Practice,
       Harvard Business School
    – Tom Hutton, Managing Partner, Thompson Hutton LLC

    2008

    – XL Capital Ltd announces agreement with Security
       Capital Assurance on pre-IPO guarantee and 
       reinsurance agreements.
    – XL Capital Ltd announces capital raise.
    – XL Insurance opens branch office for the Asian region
       in Singapore.
    – XLRe approved to begin operations in Brazil as a local,
       admitted reinsurer.
    – XL Insurance announces formation of Global Product
       Development Team.
    – XL Capital Ltd hosts XL Congress, a global risk conference
       in Washington, D.C.
    – XL Capital Ltd supports rebuilding efforts in China earthquake
       disaster.
    Selected Management Appointments
    – Michael S. McGavick, Chief Executive Officer
    – David Duclos, Chief Executive Officer, Insurance Operations
    – Celia Brown, Head of Global Human Resources and
       Corporate Relations
    – Jacob D. Rosengarten, Chief Enterprise Risk Officer

    2007

    – XL Insurance acquires Global Asset Protection Services LLC
       (XL GAPS), a leading provider of unbundled loss-prevention
       consulting services.
    – XL Insurance opens a regional office in Houston.
    – XL sponsors the second China Insurance Industry
       Executive Leadership Program.
    – XL holds its second Global Day of Giving, supporting the
       communities where XL companies operate.
    – XL Insurance enters into an agreement to rename the Hartford
       Civic Center, Connecticut's premier sports and entertainment
       venue, the XL Center.
    Selected Management Appointments
    – Brian Nocco, Chief Financial Officer
    – Kirstin  Gould, General Counsel
    Board of Director Appointments
    – John M. Vereker, former Governor and Commander-in-Chief, 
       Bermuda.

    2006

    – XL commemorates its 20th anniversary with events including
       XL Congresses in Boston and Berlin and an inaugural Global
       Day of Giving, dedicated to giving back to the communities
       where XL companies operate.
    – XL Capital Ltd and Banco Itaú Holding Financeira S.A. form
       a joint venture insurance company in Brazil.
    – Security Capital Assurance Ltd (SCA) and XL Group executives
       mark SCA's IPO at the New York Stock Exchange.
    – XL Capital Ltd opens a Representative Office in Beijing following
       approval by the China Insurance Regulatory Commission.
    – XL sponsors the first Sino-foreign executive training and 
       development program for insurance regulators and executives of
       the People's Republic of China.
    – XL Re Europe Limited, a new fully licensed European
       reinsurance company based in Dublin, is formed.
    Selected Management Appointments
    – Sarah E. Street, Chief Investment Officer
    – James H. Veghte, Chief Executive, Reinsurance General
       Operations
    – Robert Douglas, Chief Executive Officer, XL Re Life
    – Daniel Sussman, Chief Executive, Financial Lines
    Board of Director Appointments
    – Herbert N. Haag, former President and Chief Executive Officer,
       PartnerRe Ltd.
    – Joseph Mauriello, former Deputy Chairman and Chief Operating 
       Officer, KPMG LLP (United States)

    2005

    – XL raises $3.2 billion through the issuance of ordinary shares
       and equity security units.
    – XL Insurance launches a new Excess and Surplus lines unit.
    – XL completes its largest-ever annuity reinsurance transaction
       in its Life and Annuity reinsurance operations, at $1.8 billion.
    – The Fine Art and Specie unit is strengthened, and a new
       underwriting team is appointed to develop International Aviation
       business in London.
    – XL acquires a minority interest in Artemis Advisors, an
       investment advisor in New York.
    – A new underwriting unit is formed to handle North American
       Casualty Umbrella and Excess business in London.

    2004

    – XL Insurance Company Limited announces the establishment
       of a branch office in Poland.
    – XL Capital Ltd ("XL Group") contributes $100 million additional
       capital to Financial Guaranty subsidiary.
    – XL opens a new London office and partners with London charity
       Community Links.
    – XL launches a whole account commercial property insurance
       initiative with capacity of $500 million.
    – The XL Insurance companies expand Directors and Officers
       product line across Europe.
    Selected Management Appointments
    – Clive Tobin, Chief Executive Officer, Insurance Operations
    – Paul Giordano, Chief Executive Officer, Financial Products 
       and Services Operations
    Board of Director Appointments
    – Eugene M. McQuade, Chief Executive Officer, Citibank, N.A.

    2003

    – XL hosts the first XL Group Congress, “Thought Leadership
       for a World at Risk," in Switzerland.
    – XL America and ICAT partner to underwrite catastrophe risks
       for small and midsize businesses.
    – XL America acquires renewal rights for professional liability
       policies from Royal & Sun Alliance USA's DPIC unit.
    – The XL Winterthur International companies are rebranded as
       XL Insurance Global Risk.
    – Le Mans Re becomes a wholly owned subsidiary and is
       renamed XL Re Europe.
    – XL launches its “One Company Without Borders”' corporate
       cultural change program.

    2002

    – XL becomes the major shareholder of Le Mans
       Re, holding 67%.
    – XL Capital Assurance Inc. establishes AAA rated, London-
       based financial guarantee subsidiary, XL Capital Assurance
       (U.K.) Limited.
    – XL Winterthur International partners with GE Global Asset
       Protection Services to offer risk management services.
    – ACE Limited and XL Capital Ltd establish joint chair at
       St. John's University’s School of Risk Management, Insurance
       and Actuarial Science.
    – XL makes strategic investment in Stanfield Capital
       Partners LLC.

    2001

    – XL Financial Assurance Ltd. and XL Group Assurance Inc.
       receive Aaa financial strength rating from Moody's Investor
       Services.
    – Element Re is named "Company Launch of the Year" by
       The Review.
    – XL Insurance (Bermuda) Ltd completes the purchase of
       Winterthur International.
    – XL Mid Ocean Reinsurance, NAC Reinsurance Corporation
       and Latin America Reinsurance names are changed to reflect
       the global branding strategy of XL Group's reinsurance
       operations.
    – Latin America Reinsurance company becomes a wholly owned
       subsidiary of XL Group and changes its name to
       XL Re Latin America Ltd.
    Board of Director Appointments
    – Dale R. Comey, former Executive Vice President,
       ITT Corporation

    2000

    – XL Specialty Insurance Company signs an agreement to
       purchase the US surety operations of CGU Insurance.
    – XL Capital Ltd forms Element Re Capital Products Inc.
       for its non-Catastrophe Weather Risk Management products.
    – XL Capital Ltd makes a strategic investment in
       Agora Capital Management.

  • 1999

    • EXEL Limited changes its name to XL Capital Ltd.
    • XL Capital Ltd acquires Intercargo Corporation.
    • XL Capital Ltd acquires environmental insurance 
      specialist ECS, Inc.
    • XL Capital Ltd merges with NAC Re, a US-based
      reinsurer.
    • A joint venture between XL Capital Ltd and Les Mutuelles
      Du Mans Assurances forms Le Mans Re in France.
    • XL Capital Ltd sells Mid Ocean's two motor books,
      Admiral and Zenith.

    1998

    • EXEL Limited merges with Mid Ocean Limited.
    • The ownership of Lloyd’s operation Brockbank,
      which Mid Ocean purchased in 1996, is transferred to
      XL Capital Ltd with the Mid Ocean acquisition.
    • XL Capital Ltd acquires minority stake in Annuity &
      Life Re (Holdings) Ltd.
    • XL Capital Ltd forms a joint venture with Financial
      Security Assurance.
    • XL acquires Folksamerica General Insurance Company
      and renames it X.L. Insurance Company of America, Inc.

    1997

    • XL raises $3.2 billion through the issuance of ordinary
      shares and equity security units. S&P upgrades
      XL Insurance (Bermuda) Ltd's rating to AA.
    • EXEL Limited acquires GCR Holdings.
    • EXEL Limited invests in 75% of Latin America
      Reinsurance Ltd.
    • Sovereign Risk Insurance Ltd is formed as a (50%-50%)
      joint venture between XL Insurance (Bermuda) and ACE Ltd.

    1996

    • EXEL acquires a minority stake in Pareto Partners.

    1995

    • XL Capital Ltd invests $70 million in Risk Capital Re.
    • XL Re Limited capitalizes at $250 million.
    • XL Insurance (Bermuda) Ltd receives A.M. Best 
      rating of A (Excellent).
    • XL Insurance (Bermuda) Ltd receives S&P rating
      of AA.
    • Shareholders' equity exceeds $2 billion.
    Board of Director Appointments
    • Ellen E. Thrower, Professor, School of Risk Management,
      Insurance and Actuarial Science at St. John's University’s
      Tobin College of Business.

    1994

    • Brian O'Hara is appointed  the group’s  third Chief
      Executive Officer.

    1993

    • XL Capital Ltd invests $73 million in Mid Ocean
      Reinsurance's IPO.
    • Annual GWP for XL Insurance (Bermuda) Ltd and
      XL Europe (Ltd) exceeds $500 million.

    1992

    • Second public offering of XL stock at a price
      of $32.50.
    • XL invests $100 million in Mid Ocean Reinsurance Ltd,
      a property catastrophe reinsurer.

    1991

    • XL's ordinary shares are listed for the first time on the
      New York Stock Exchange (NYSE) under the ticker
      symbol "XL."
    • Initial Public Offering of 24.7 million shares at a listing
      price of $25.50.
    • Net income reaches $267 million.

    1990

    • EXEL Limited and XL Insurance (Bermuda) Ltd are
      domiciled in Bermuda.
    • XL Europe Insurance Company opens in Dublin.

  • 1989

    • XL Insurance (Bermuda) Limited receives its
      200th submission.
    • Mike Kevany is elected the second Chief Executive
      Officer of EXEL and XL Insurance.

    1988

    • XL Insurance (Bermuda) Ltd introduces Errors and
      Omissions insurance.
    • EXEL Limited adopts a mission statement detailing
      its strengths: Capacity, Stability, Risk Absorption and
      Financial Security.

    1987

    • Barbados/Bermuda officers are announced.
    • Ian Heap is appointed the first Chief Executive Officer.

    1986

    • A group of 68 Fortune 500 companies forms EXEL Limited
      Incorporated in the Cayman Islands.
    • XL Insurance (Bermuda) Ltd
      (formerly X.L. Insurance Company Ltd)
      incorporates in Barbados with GWP exceeding $206 million.

XL uses two forms of cookies on this site:

  1. to enable the site to operate and retain any preferences you set; and
  2. for analytics to make the site more relevant and easy to use.

These cookies do not collect personal information. For more information about our cookie usage, please click here . To comply with EU privacy laws you must consent to our use of cookies.

By using this site, you agree that we can place these types of cookies on your device. If you choose to change your cookie settings you will be presented with this message the next time you visit.

Our History

From 25 years ago to today: XL and industry leaders talk about a quarter century of changing risk — and the way ahead.

Watch Video

The U.S. liability insurance crisis of the 1980s: capacity halved, premiums doubled. Then they doubled again. Nobody was prepared to cover the risks, so nobody was prepared to take them. In 1986, 68 of the world's largest companies came together and founded what is now XL Group to solve complex risks. We managed to unstick what was stuck. We found an answer to the problem. We changed the rules.

  • 2014

    – XL Reinsurance America Inc. acquires Global Ag Insurance 
       Services, a provider of crop insurance in the western US.
    – XL Group announces increase in share buyback program.
       Board authorizes buyback of up to $1 billion of ordinary shares.
    Selected Management Appointments
    – Joseph Tocco, Chief Executive Officer, North America Property and Casualty


    2013

    – XL Group and Stone Point Capital form New Ocean Capital Limited,
       an investment management company focused on insurance-linked
       securities and (re)insurance capital markets products.
    – XL Group plc moves to new offices on St. Stephen’s Green,
       Dublin
    – CEO Mike McGavick elected chairman of the Geneva
       Association
    – XL Group launches Fast Fast Forward, a new online platform for
       commentary, news and tools on risk
    – XL Group creates Asia Pacific region headquartered in 
       Singapore
    – XL Group named Model Insurer of the Year by Celent
    – XL Group opens new insurance office in Manchester, UK
    – XL Group announces expansion of facultative reinsurance
       footprint in US
    – XL Group creates Global Emerging Markets unit within
       Reinsurance Operations
    Selected Management Appointments
    – Andrew Pinkes, Global Head of Claims, Insurance Operations
    – Philip Jacobs, Global Head of Capital Management, Corporate
       Development and Tax


    2012

    – XL Group opens new insurance office in Lyon, France
    – XL Group launches new website
    – XL Group plc announces repayment of $600 million  in XLCFE
       senior notes
    – XL Group obtains final approval to establish Brazil insurance
       operation
    – XL announces new $750 million share buyback program
    Selected Management Appointments 
    – Chris Dougherty, Chief Financial Officer, Insurance Operations
    – Eileen Whelley, Chief Human Resources Officer
    – Jason Harris, Chief Executive, International Property and
       Casualty, Insurance Operations

    2011

    – XL Group launches a rebranding, adopting the single brand
       name XL Group and the Make Your World Go tagline.
    – XL Insurance (Bermuda) Ltd and XL Re Ltd qualify for 
       reduced collateral status in New York.
    Selected Management Appointments
    – Peter R. Porrino, Chief Financial Officer
    Board of Director Appointments
    – Ramani Ayer, Former Chairman and Chief Executive Officer,
       The Hartford Financial Services Group, Inc.
    – Suzanne B. Labarge, Former Vice Chairman and Chief Risk
       Officer, Royal Bank of Canada (RBC Financial Group)

    2010

    – XL Group plc (NYSE: XL), formerly XL Capital Ltd, completes 
       redomestication to Ireland and name change.
    – XL Group establishes Office of Strategic Growth.
    – XL Group announces new $1 billion share buyback program.
    – XL Re Ltd becomes first Bermuda company to qualify as an 
       eligible reinsurer in Florida.
    – XL Group obtains licenses to establish operations in China.
    – XL Insurance launches global claims management system.
    Selected Management Appointments
    – Irene Esteves, Chief Financial Officer
    – Gregory S. Hendrick, Executive Vice President, Strategic
       Growth
    – Charles Cooper, President and Chief Underwriting Officer,
       XL Re Ltd
    – Seraina Maag, Chief Executive Officer, North America 
       Property and Casualty
    – Philippe Rochaix, President and Chief Operating Officer, 
       XL Re Latin America Ltd
    – Patrick Tannock, President of XL Insurance (Bermuda) Ltd

    2009

    – Stock gains 395%, taking the number one spot on the
       S&P 500 Index.
    – XLRe recognized for eCommerce leadership by the 
       Association for Cooperative Operations Research and
       Development.
    – XL receives approval to begin preparing to set
       up a P&C (non-Life) company in China.
    Selected Management Appointments
    – Elizabeth L. Reeves, Executive Vice President and
      Chief Human Resources Officer
    – W. Myron Hendry, Chief Platform Officer
    Board of Director Appointments
    – Clayton S. Rose, Professor of Management Practice,
       Harvard Business School
    – Tom Hutton, Managing Partner, Thompson Hutton LLC

    2008

    – XL Capital Ltd announces agreement with Security
       Capital Assurance on pre-IPO guarantee and 
       reinsurance agreements.
    – XL Capital Ltd announces capital raise.
    – XL Insurance opens branch office for the Asian region
       in Singapore.
    – XLRe approved to begin operations in Brazil as a local,
       admitted reinsurer.
    – XL Insurance announces formation of Global Product
       Development Team.
    – XL Capital Ltd hosts XL Congress, a global risk conference
       in Washington, D.C.
    – XL Capital Ltd supports rebuilding efforts in China earthquake
       disaster.
    Selected Management Appointments
    – Michael S. McGavick, Chief Executive Officer
    – David Duclos, Chief Executive Officer, Insurance Operations
    – Celia Brown, Head of Global Human Resources and
       Corporate Relations
    – Jacob D. Rosengarten, Chief Enterprise Risk Officer

    2007

    – XL Insurance acquires Global Asset Protection Services LLC
       (XL GAPS), a leading provider of unbundled loss-prevention
       consulting services.
    – XL Insurance opens a regional office in Houston.
    – XL sponsors the second China Insurance Industry
       Executive Leadership Program.
    – XL holds its second Global Day of Giving, supporting the
       communities where XL companies operate.
    – XL Insurance enters into an agreement to rename the Hartford
       Civic Center, Connecticut's premier sports and entertainment
       venue, the XL Center.
    Selected Management Appointments
    – Brian Nocco, Chief Financial Officer
    – Kirstin  Gould, General Counsel
    Board of Director Appointments
    – John M. Vereker, former Governor and Commander-in-Chief, 
       Bermuda.

    2006

    – XL commemorates its 20th anniversary with events including
       XL Congresses in Boston and Berlin and an inaugural Global
       Day of Giving, dedicated to giving back to the communities
       where XL companies operate.
    – XL Capital Ltd and Banco Itaú Holding Financeira S.A. form
       a joint venture insurance company in Brazil.
    – Security Capital Assurance Ltd (SCA) and XL Group executives
       mark SCA's IPO at the New York Stock Exchange.
    – XL Capital Ltd opens a Representative Office in Beijing following
       approval by the China Insurance Regulatory Commission.
    – XL sponsors the first Sino-foreign executive training and 
       development program for insurance regulators and executives of
       the People's Republic of China.
    – XL Re Europe Limited, a new fully licensed European
       reinsurance company based in Dublin, is formed.
    Selected Management Appointments
    – Sarah E. Street, Chief Investment Officer
    – James H. Veghte, Chief Executive, Reinsurance General
       Operations
    – Robert Douglas, Chief Executive Officer, XL Re Life
    – Daniel Sussman, Chief Executive, Financial Lines
    Board of Director Appointments
    – Herbert N. Haag, former President and Chief Executive Officer,
       PartnerRe Ltd.
    – Joseph Mauriello, former Deputy Chairman and Chief Operating 
       Officer, KPMG LLP (United States)

    2005

    – XL raises $3.2 billion through the issuance of ordinary shares
       and equity security units.
    – XL Insurance launches a new Excess and Surplus lines unit.
    – XL completes its largest-ever annuity reinsurance transaction
       in its Life and Annuity reinsurance operations, at $1.8 billion.
    – The Fine Art and Specie unit is strengthened, and a new
       underwriting team is appointed to develop International Aviation
       business in London.
    – XL acquires a minority interest in Artemis Advisors, an
       investment advisor in New York.
    – A new underwriting unit is formed to handle North American
       Casualty Umbrella and Excess business in London.

    2004

    – XL Insurance Company Limited announces the establishment
       of a branch office in Poland.
    – XL Capital Ltd ("XL Group") contributes $100 million additional
       capital to Financial Guaranty subsidiary.
    – XL opens a new London office and partners with London charity
       Community Links.
    – XL launches a whole account commercial property insurance
       initiative with capacity of $500 million.
    – The XL Insurance companies expand Directors and Officers
       product line across Europe.
    Selected Management Appointments
    – Clive Tobin, Chief Executive Officer, Insurance Operations
    – Paul Giordano, Chief Executive Officer, Financial Products 
       and Services Operations
    Board of Director Appointments
    – Eugene M. McQuade, Chief Executive Officer, Citibank, N.A.

    2003

    – XL hosts the first XL Group Congress, “Thought Leadership
       for a World at Risk," in Switzerland.
    – XL America and ICAT partner to underwrite catastrophe risks
       for small and midsize businesses.
    – XL America acquires renewal rights for professional liability
       policies from Royal & Sun Alliance USA's DPIC unit.
    – The XL Winterthur International companies are rebranded as
       XL Insurance Global Risk.
    – Le Mans Re becomes a wholly owned subsidiary and is
       renamed XL Re Europe.
    – XL launches its “One Company Without Borders”' corporate
       cultural change program.

    2002

    – XL becomes the major shareholder of Le Mans
       Re, holding 67%.
    – XL Capital Assurance Inc. establishes AAA rated, London-
       based financial guarantee subsidiary, XL Capital Assurance
       (U.K.) Limited.
    – XL Winterthur International partners with GE Global Asset
       Protection Services to offer risk management services.
    – ACE Limited and XL Capital Ltd establish joint chair at
       St. John's University’s School of Risk Management, Insurance
       and Actuarial Science.
    – XL makes strategic investment in Stanfield Capital
       Partners LLC.

    2001

    – XL Financial Assurance Ltd. and XL Group Assurance Inc.
       receive Aaa financial strength rating from Moody's Investor
       Services.
    – Element Re is named "Company Launch of the Year" by
       The Review.
    – XL Insurance (Bermuda) Ltd completes the purchase of
       Winterthur International.
    – XL Mid Ocean Reinsurance, NAC Reinsurance Corporation
       and Latin America Reinsurance names are changed to reflect
       the global branding strategy of XL Group's reinsurance
       operations.
    – Latin America Reinsurance company becomes a wholly owned
       subsidiary of XL Group and changes its name to
       XL Re Latin America Ltd.
    Board of Director Appointments
    – Dale R. Comey, former Executive Vice President,
       ITT Corporation

    2000

    – XL Specialty Insurance Company signs an agreement to
       purchase the US surety operations of CGU Insurance.
    – XL Capital Ltd forms Element Re Capital Products Inc.
       for its non-Catastrophe Weather Risk Management products.
    – XL Capital Ltd makes a strategic investment in
       Agora Capital Management.

  • 1999

    • EXEL Limited changes its name to XL Capital Ltd.
    • XL Capital Ltd acquires Intercargo Corporation.
    • XL Capital Ltd acquires environmental insurance 
      specialist ECS, Inc.
    • XL Capital Ltd merges with NAC Re, a US-based
      reinsurer.
    • A joint venture between XL Capital Ltd and Les Mutuelles
      Du Mans Assurances forms Le Mans Re in France.
    • XL Capital Ltd sells Mid Ocean's two motor books,
      Admiral and Zenith.

    1998

    • EXEL Limited merges with Mid Ocean Limited.
    • The ownership of Lloyd’s operation Brockbank,
      which Mid Ocean purchased in 1996, is transferred to
      XL Capital Ltd with the Mid Ocean acquisition.
    • XL Capital Ltd acquires minority stake in Annuity &
      Life Re (Holdings) Ltd.
    • XL Capital Ltd forms a joint venture with Financial
      Security Assurance.
    • XL acquires Folksamerica General Insurance Company
      and renames it X.L. Insurance Company of America, Inc.

    1997

    • XL raises $3.2 billion through the issuance of ordinary
      shares and equity security units. S&P upgrades
      XL Insurance (Bermuda) Ltd's rating to AA.
    • EXEL Limited acquires GCR Holdings.
    • EXEL Limited invests in 75% of Latin America
      Reinsurance Ltd.
    • Sovereign Risk Insurance Ltd is formed as a (50%-50%)
      joint venture between XL Insurance (Bermuda) and ACE Ltd.

    1996

    • EXEL acquires a minority stake in Pareto Partners.

    1995

    • XL Capital Ltd invests $70 million in Risk Capital Re.
    • XL Re Limited capitalizes at $250 million.
    • XL Insurance (Bermuda) Ltd receives A.M. Best 
      rating of A (Excellent).
    • XL Insurance (Bermuda) Ltd receives S&P rating
      of AA.
    • Shareholders' equity exceeds $2 billion.
    Board of Director Appointments
    • Ellen E. Thrower, Professor, School of Risk Management,
      Insurance and Actuarial Science at St. John's University’s
      Tobin College of Business.

    1994

    • Brian O'Hara is appointed  the group’s  third Chief
      Executive Officer.

    1993

    • XL Capital Ltd invests $73 million in Mid Ocean
      Reinsurance's IPO.
    • Annual GWP for XL Insurance (Bermuda) Ltd and
      XL Europe (Ltd) exceeds $500 million.

    1992

    • Second public offering of XL stock at a price
      of $32.50.
    • XL invests $100 million in Mid Ocean Reinsurance Ltd,
      a property catastrophe reinsurer.

    1991

    • XL's ordinary shares are listed for the first time on the
      New York Stock Exchange (NYSE) under the ticker
      symbol "XL."
    • Initial Public Offering of 24.7 million shares at a listing
      price of $25.50.
    • Net income reaches $267 million.

    1990

    • EXEL Limited and XL Insurance (Bermuda) Ltd are
      domiciled in Bermuda.
    • XL Europe Insurance Company opens in Dublin.

  • 1989

    • XL Insurance (Bermuda) Limited receives its
      200th submission.
    • Mike Kevany is elected the second Chief Executive
      Officer of EXEL and XL Insurance.

    1988

    • XL Insurance (Bermuda) Ltd introduces Errors and
      Omissions insurance.
    • EXEL Limited adopts a mission statement detailing
      its strengths: Capacity, Stability, Risk Absorption and
      Financial Security.

    1987

    • Barbados/Bermuda officers are announced.
    • Ian Heap is appointed the first Chief Executive Officer.

    1986

    • A group of 68 Fortune 500 companies forms EXEL Limited
      Incorporated in the Cayman Islands.
    • XL Insurance (Bermuda) Ltd
      (formerly X.L. Insurance Company Ltd)
      incorporates in Barbados with GWP exceeding $206 million.