Brian M. O'Hara, President and Chief Executive Officer of XL, stated: "XL recognizes that Corporate Social Responsibility is a core part of governance in the business environment that we operate. This role will ensure that the local and international initiatives of both our business units and employees embrace the XL culture, its reputation and its giving philosophy, along with sensitivity to local requirements. Gavin Arton brings significant industry experience and knowledge of XL's operating environment to the Office of Corporate Relations."
To ensure a coordinated and complementary approach to all Corporate Relations activities, the following functions will report into the Office of Corporate Relations: Corporate Communications and Public Relations, Corporate Marketing, Corporate Knowledge Management and the XL Foundation.
Mr. Arton will continue in his current role as head of Investor Relations until his successor is identified and in place. Lily Outerbridge will stay as Vice President of Investor Relations, providing continuity for this important role at XL.
XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional services firms, insurance companies, and other enterprises on a worldwide basis. As of June 30, 2003, XL Capital Ltd has consolidated assets of approximately $39.2 billion and consolidated shareholders' equity of approximately $7.6 billion. More information about XL Capital Ltd is available at www.xlgroup.com.