Mr. Nason, formerly Executive Vice President and Chief Underwriting Officer of XL Re Ltd in Bermuda, will relocate to Stamford, Connecticut to assume his new role. His key responsibilities will include coordinating Underwriting Policy and Practice within the group, spearheading global underwriting and premium audit activities, evaluating new products and services and developing marketing strategies for the reinsurance segment. Mr. Nason will continue to report to Mr. Henry C.V. Keeling, Chief Executive of XL’s Global Reinsurance Operations.
Mr. Keeling said: “Bob Nason has been a tremendous asset to XL Re over the last five years and to Global Capital before that. His new position is designed to strengthen our ability to integrate various XL Re operations, to ensure that our global business is executed effectively and to provide our customers with a consistently professional level of products and services. While I continue to concentrate on the overall strategic direction of XL’s reinsurance operations, Bob will play a key role in providing me with independent underwriting support. I look forward to working with Bob in his new role and would like to congratulate him on his new position.”
Mr. Nason worked for Global Capital Reinsurance (“GCR”) when it was acquired by XL in 1997. Prior to his career with GCR, he spent ten years with Trenwick America Reinsurance Company as a director and senior vice president. He has previously worked for Commercial Union Re, Transatlantic Re and Kemper Insurance in treaty, facultative and direct underwriting positions. Mr. Nason has a B.Sc. in Business Administration from Northeastern University and an MBA from Babson College.
XL Capital Ltd, 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 September 30, 2002, XL Capital Ltd had consolidated assets of approximately $34.1 billion and consolidated shareholders' equity of approximately $5.9 billion. More information about XL Capital Ltd is available at www.xlgroup.com.