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XL Financial Assurance Announces Promotions of Sean Symons and Roderick Romeo

HAMILTON, BERMUDA -- June 22, 2004: XL Financial Assurance Ltd ("XLFA"), part of the Financial Products and Services segment of XL Capital Ltd (NYSE: XL), has announced the appointments of Bermudians Sean A. Symons and Roderick Romeo Jr. to the positions of Chief Financial Officer and Controller, respectively.
Mr. Jerry de St. Paer, Chief Financial Officer of XL Capital Ltd, said: "I am pleased to announce the promotions of two of our leading professionals at XLFA. Sean has played a key role in the company, designing accounting and reporting processes at XLFA while handling segment accounting responsibilities. Roddy has solid insurance and treasury experience and was instrumental in positioning the accounting controls and reporting for both XLFA and our Bermuda-based weather and energy companies. These are significant appointments which will help to ensure the continued development of a core part of XL Capital Group's Financial Products & Services business."
Mr. Symons, who has been with XL Capital Group for five years, was previously Controller and Deputy Chief Financial Officer at XLFA. He joined XLFA from PricewaterhouseCoopers where he was an insurance audit manager. Mr. Symons holds a Bachelor of Business degree from Acadia University and is a member of the Institute of Chartered Accountants.
Mr. Romeo, previously Assistant Controller, joined XLFA two years ago from the Bermuda Treasury Department of XL and was with Bermuda Monetary Authority and PricewaterhouseCoopers before that. Mr. Romeo attended St. Mary's University in Halifax, Canada, where he graduated with a Bachelor of Commerce in Accounting. He is a member of the Institute of Chartered Accountants.
XL Financial Assurance Ltd provides financial guaranty reinsurance to primarily monoline financial guarantors and multiline insurers with financial guaranty exposures, focusing primarily on asset-backed securitizations, as well as essential infrastructure project finance, future flow and municipal transactions.
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.

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