GE Global Asset Protection Services will provide the XL Winterthur International companies and their clients with a broad array of risk management services. Those services include: candidate assessments, loss prevention field visits, risk mitigation efforts, plan reviews and generation of comprehensive risk assessment reports. In addition, XLWI customers will have access to a suite of web-based tools, including www.gegapservices.com and MyAnalysis.
"In today's business climate, this agreement offers a more sophisticated level of security to buyers of commercial insurance," said Loren Douglass, President of GE Global Asset Protection Services. "Large companies will be able to better protect their people and property from damage and business interruption."
Clive Tobin, President and CEO of XLWI, said: "Our customers are Fortune 2000 companies that value technical sophistication and service. By combining the risk engineering and underwriting excellence of XLWI with the technical loss prevention expertise of GE Global Asset Protection Services, we're able to deliver world-class risk management solutions to our customers."
XLWI offers individual, comprehensive risk management solutions to large national and multinational corporations. XLWI is an international brand of XL Capital Ltd, which, through its operating 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 worldwide basis. As of March 31, 2002, XL Capital Ltd had consolidated assets of approximately $30.6 billion and consolidated shareholders' equity of approximately $5.5 billion. More information about XL Capital Ltd is available at www.xlgroup.com .
GE Global Asset Protection Services provides loss prevention, asset management, and business continuity products and services to large industrial, manufacturing, services, healthcare, and utility companies. It is part of Employers Reinsurance Corporation, a GE Company. More information about GE Global Asset Protection Services is available at www.gegapservices.com.
GE (NYSE: GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide.
For more information, contact:
Daniele Isenegger: XL Winterthur International: +41 52 261 5759
Roger Scotton: XL Capital Ltd: 441-294-7165
Elaina Boudreau: GE GAP Services: 913-676-6489
Dean Davison: GE GAP Services: 913-676-5147