XL Capital Ltd. announced that director Michael A. Butt is resigning from its
Board. Butt is expected to be appointed as Chairman of the Board of Axis Specialty Limited in Sept. 2002.
Butt, who will continue to be based in Bermuda, has been a director of
XL since 1998. He was president and CEO of Mid Ocean Limited from 1993 to August 1998 when it was acquired by XL.
Butt was chairman of Sedgwick Limited and vice-chairman of the Sedgwick Group Plc. in the U.K. from 1982 to 1986, and served as chairman and CEO of Eagle Star Holdings Plc. and Eagle Star Insurance Company from 1987 to 1992.
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