This year’s program, which officially begins on November 11, has again been developed in conjunction with the China Insurance Regulatory Commission ("CIRC"), GuoFa Capital Market Research Center and the Aresty Institute of Executive Education at the Wharton School of the University of Pennsylvania ("Wharton"). The executive training and development program was the first Sino- foreign insurance leadership course endorsed by CIRC to include sessions in both China and other countries when it was launched last year.
XL Chairman Michael P. Esposito, Jr., XL Chief Operating Officer Henry C.V. Keeling, and a team of university professors and insurance scholars will lead the four-day program in Zhuhai. A second module will take place in March 2008 in the United States. The program consists of various educational sessions focusing on market issues such as corporate governance, product innovation and risk management, and economic security issues facing the Chinese government and the insurance industry on both local and international levels.
Up to 40 delegates are expected to participate in the first part of the program, 20 of whom will be selected to travel to the United States next year. Those who complete both modules will receive a certificate issued jointly by the CIRC and Wharton.
Mr. Keeling said: "After the success of last year’s China Insurance Industry Executive Leadership Program, we wanted to continue contributing to the development of the China insurance industry and also to support the Chinese government's goal of increasing competition among the country’s domestic insurance companies, thereby improving insurance products and services. This year’s program in particular will offer information and insights on global issues facing leading companies. Our aim is to provide the necessary tools that the Chinese insurance industry will need to compete effectively in the global marketplace."
XL Capital Ltd, through its operating subsidiaries, is a leading provider of global insurance and reinsurance coverages to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of September 30, 2007, XL Capital Ltd had consolidated assets of $60.9 billion and consolidated shareholders’ equity of $11.4 billion. More information about XL Capital Ltd is available at www.xlgroup.com.