XL Capital Renames Aerospace Operations

September 25, 2002

Bermuda’s XL Capital Ltd. announced that its space and aviation operations, previously part of Brockbank Insurance Services, Inc., will now “be operating under the trade name of XL Aerospace, a division of XL Specialty Insurance Company,” which is part of XL Insurance.

Charles Rudd, CEO of XL Aerospace, stated that “The trade name change to XL Aerospace is intended to enhance the clarity of our capabilities, expertise, and focus in space and aviation insurance. We have knowledgeable and experienced underwriting teams in space and aviation, backed by the reputation and financial strength that are associated with the XL name.”

Commenting on the name change, Nicholas M. Brown, Jr., CEO of XL Insurance, stated that “With the expertise of Chuck Rudd and his team, XL has established itself as a world leader in aerospace and an important contributor to the profitable growth of XL’s insurance operations. The trade name change communicates well XL’s strategy of providing highly specialized underwriting expertise to the space and aviation sector.”

XL’s space and aviation business is underwritten on an admitted basis in the United States, with policies issued by XL Specialty Insurance Company, and in the U.K. through syndicates managed by XL London Market Ltd.

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