Michael E. Mathisen has been named Global Treasurer. Mr. Mathisen will oversee XL's global liquidity, funding, cash management, foreign exchange, balance sheet and capital management transactions as well as the Company's rating agency matters. Mr. Mathisen, who is also a lawyer, joined XL in 2001 as Director of Worldwide Tax. Prior to joining XL, he was a partner at KPMG in Philadelphia and Director of Insurance Tax Services for PricewaterhouseCoopers also in Philadelphia.
Additionally, XL announced the appointment of Mervyn Skeet, who will succeed Mr. Mathisen as Director of Worldwide Tax. Mr. Skeet was previously Director of Taxes - Europe. In his new role, he will oversee XL's global tax function which includes tax compliance for all direct, indirect and employment taxes in all jurisdictions; financial and regulatory statement preparation of local and global tax provisions; and tax planning for all segments of the Company. Prior to joining XL, Mr. Skeet held financial positions at Chubb and the accountancy firm Moores Rowland.
XL also announced that Henry T. French Jr. has been named to the new position of General Counsel for Global Litigation. In this role, Mr. French will coordinate and oversee all corporate litigation and arbitration matters for the Company, ensure consistent coverage positions on exposures affecting multiple segments and develop litigation best practices for XL's employed lawyers and claims professionals. Mr. French will also continue to serve as Compliance Director for XL. Previously, Mr. French headed the Company's international property and casualty legal team. Prior to joining XL in 2000, he served as General Counsel of a business unit of a global insurer, worked as coverage and claims advisor for an international insurance broker and practiced litigation for a private law firm.
Commenting on the appointments, XL President and Chief Executive Officer Brian M. O'Hara said: "I am pleased to announce the new responsibilities for Michael Mathisen, Mervyn Skeet and Henry French. Their appointments highlight our strong commitment to the growth and development of key talent. Each of these individuals is a proven leader at XL, and we believe that they will serve the Company well in these important executive positions."
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 September 30, 2006, XL Capital Group Ltd had consolidated assets of approximately $59.8 billion and consolidated shareholders' equity of $9.5 billion.