XL Makes Management Changes

February 7, 2002

Bermuda’s XL Capital Ltd has announced several management changes. Willi Suter, President and CEO of XL Winterthur International, XL’s large account risk management insurance operation, will assume a new position leading an international strategic development initiative. Clive Tobin has been appointed as the new President and CEO of XL Winterthur International.

Tobin previously served as Deputy CEO and Chief Underwriting Officer of XL Winterthur International following XL’s acquisition of the risk management business from Credit Suisse in 2001. Hans Gmunder, Global Head of Sales and Operations for XL Winterthur International, has been appointed to fill that position. Suter will remain as chairman of XL Winterthur International Insurance Switzerland.

Acknowledging the accomplishments of the three men, XL President Brian M
O’Hara stated, “Willi Suter and his team were instrumental in building Winterthur International’s global network and its customer franchise and I am extremely pleased with the rapid progress that he, Clive Tobin and Hans Gmunder have made in integrating our industrial risk management operations.”

“With improving market conditions, we believe there are further opportunities to grow XL’s international business across all segments, and I have asked Willi Suter to report to me in leading an initiative to expand the range of our international strategic opportunities. His knowledge and business relationships established over many years at Winterthur International are valued by XL and we welcome him to his new position,” O’Hara continued.

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