XL Insurance Notes New Developments in Global Aerospace Operations

March 6, 2006

David Duclos, COO for XL Capital Ltd’s (“XL”) insurance operations (“XL Insurance”), reported changes within XL Insurance’s global aerospace business.

London-based Peter Bilsby has been appointed chief underwriting officer of XL Insurance’s Aerospace operations, which has underwriting teams in the UK and the U.S.

Bilsby, who joined the XL group last year as head of the non-U.S. Aviation insurance operations, has 20 years of experience in the aerospace industry.

Meanwhile, Christopher O’Gwen, formerly of United States Aviation Underwriters Inc. (USAIG), has been appointed regional manager of the XL Insurance U.S. Aviation team. He is joined by Class Underwriter Thomas Callahan Jr., also of USAIG, and Class Underwriter Eric Donofrio, formerly of Willis in New York.

XL Insurance recently relocated its U.S. Aviation operations from Santa Barbara, California to New York, where members of the new U.S. team have approximately 40 years of combined underwriting and broking experience.

Derek Webb has also joined the London Aviation team this week as global manager.

Webb, who reports to Mearing, has 30 years of experience in the broking market, including 20 years at Willis where he held posts in management and sales in the U.S., UK, and Asia. He will work closely with London-based Class Underwriter Chris Collins.

The global Aerospace unit is part of XL Insurance’s Specialty Insurance operations and provides a broad spectrum of coverage for major and regional airlines, as well as for aviation service providers around the world. They also provide coverage for satellites (at launch and while in orbit) and general aviation.

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