In addition, Mr. Hans Gmünder, Global Head of Sales and Operations for XL Winterthur International, has been appointed Deputy CEO.
Mr. Brian M. O'Hara, President and CEO of XL stated: "Willi Suter and his team were instrumental in building Winterthur International's global network and its customer franchise and I am extremely pleased with the rapid progress that he, Clive Tobin and Hans Gmünder have made in integrating our industrial risk management operations."
Mr. O'Hara added: "With improving market conditions, we believe there are further opportunities to grow XL's international business across all segments, and I have asked Willi Suter to report to me in leading an initiative to expand the range of our international strategic opportunities. His knowledge and business relationships established over many years at Winterthur International are valued by XL and we welcome him to his new position."
Mr. Nicholas M. Brown, Jr., CEO of XL's Insurance Operations, said: "Clive Tobin has a strong background in the large account risk management business and is a highly respected member of XL's management team, having served as President and CEO of XL Insurance (Bermuda) Ltd. Additionally, he led XL's risk management operations prior to XL's acquisition of Winterthur International. I am also pleased to acknowledge Hans Gmünder's key role in executive management. Since the foundation of Winterthur International, Hans has been instrumental in establishing its prominent international position through his numerous relationships in the risk management community and has developed a respected customer relationship team."
XL Capital Ltd, through its wholly owned 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 world-wide basis. As of September 30, 2001, XL had consolidated assets of approximately $25.7 billion and consolidated shareholders equity of $4.8 billion. More information about XL is available at www.xlgroup.com.