XL in Partnership with City of Zurich to Provide Career Education Program

February 5, 2004

Bermuda’s XL Capital Ltd. announced that its global Property and Casualty insurance subsidiary, XL Insurance Switzerland (XLIS), is to fund a career education program developed and offered by the Careers Guidance Office of the City of Zurich.

The program’s objective is to “prepare young adults for successful transition from apprenticeship positions to professional careers,” said the announcement.

XL’s President and CEO Brian M. O’Hara plans to announce the initiative to XLIS employees, brokers and customers during an official open house reception at XLIS’ new headquarters in Zurich. “Approximately 300 employees have moved from the former headquarters in Winterthur to the new location at Mythenquai 10 in Zurich’s financial district,” said the announcement. Zurich is the continental European headquarters for XL Insurance, employing the largest number of European the company’s European staff.

XLIS intends to fund the training program for two years. The scheme, which is one of XL’s Corporate Social Responsibility initiatives, will offer career training and guidance from the City’s Vocational Information Center to enable young adults to learn more about vocational training, school education and vocational re-training opportunities.

“XL is a firm believer in investing in education,” O’Hara stated. “An investment in education is an investment in people and ultimately, an investment in the future. This program not only helps young adults understand the necessary skills they will need to enter the professional workplace, but also helps them to utilize their educational assets to their full potential. We are proud that XLIS has decided to support this worthwhile program.”

Zurich’s Career Guidance Director Dr. Rene Zihlmann commented: “We are grateful to XLIS for providing us with the financial support we need to offer this program. It effectively arms young adults in Zurich with the skills they need to thrive in a competitive environment and helps them secure full-time employment. We believe it not only benefits those entering the workforce for the first time, but also employers who are seeking the best individuals to work for them.”

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