XL Names Gallagher to Head Global Property Operations Unit

May 8, 2006

David Duclos, COO of XL Capital Ltd.’s global insurance operations, which operates as “XL Insurance,” announced the appointment of John B. Gallagher as Chief Underwriting Officer of the unit’s global property operations. He will be located in the XL Insurance New York office and will report to Duclos.

Gallagher joins XL Insurance from ACE USA, where he was EVP of the Company’s Property division. Prior to that, he was a VP of International Property at AMRe Managers and has also held senior positions at Chubb, Munich-American RiskPartners and AXA. He has 30 years of industry experience in risk management and various property, underwriting and management positions.

Duclos commented: “We think that John’s skills are a good fit for our organization and will help to continue the successful Property business that we have built over the last decade. Our Property group has global underwriting capabilities, dedicated loss prevention services, and is well respected for the technical expertise they bring to the market. They have provided significant value to XL. I believe the appointment of John can help make our operations even stronger, providing clients and brokers with the high level of service and support they expect from XL.”

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