Dowden Appointed CRO at XL Capital

September 19, 2003

Bermuda-based XL Capital Ltd. announced it has appointed Paul D. Dowden to the position of senior vice president and chief risk officer, a new position within XL.

Since 2002, Dowden has been senior vice president and group underwriting risk officer of XL. His key responsibilities will include the identification, coordination and management of underwriting, operational and other risks across the group. Dowden will also serve as chairman of XL’s Risk Management Committee and, in that capacity, report to Brian M. O’Hara, president and chief executive officer of XL.

O’Hara said: “Paul Dowden has made significant improvements to our management of underwriting risk over the past year as well as being a tremendous asset to XL in his various senior management roles before that. Paul’s knowledge and experience make him an ideal candidate for this new position which we have created to strengthen our ability to optimize our performance through effective risk management. I look forward to working with Paul and would like to congratulate him on his new position.”

Dowden joined XL in 1995 as vice president of XL Insurance Ltd.’s (XLI) General Liability Division. He was promoted to managing director of the Energy & Chemical Customer Business Unit in 1998 and managing director, Latin American Business Development in 2000 before moving to XL Capital Ltd. in the role of senior vice president, Reinsurance & Global Business Development in 2001. Prior to his career with XL, he spent thirteen years in various senior management positions in the London Insurance Market.

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