X.L. America Launches Consolidated

X.L. America Inc. is consolidating the management of its U.S. specialty insurance programs under one newly formed business unit, XL Programs.

XL Programs will partner with insurance program administrators to offer specialized insurance coverages to distinct market segments. Leveraging the program business in Greenwich Insurance Company, XL Programs now manages total insurance premiums in excess of $200 million. These programs provide specialty property and casualty, warranty, workers’ compensation, and intellectual property coverages to various industries, including habitational real estate, auto and construction.

William Kronenberg III, who will oversee the unit as CEO, brings to XL Programs more than 25 years of program management experience on both the carrier side and the program administrator side of the business. He also serves as CEO of ECS Inc., an XL Capital company and a provider of integrated environmental risk management services.

Rick Callahan will serve as president of XL Programs, bringing his experience and guidance to managing the businesses strategic operation. For the last several years, Callahan served as president of Greenwich Insurance Company.

Chris Farina will be promoted to executive vice president of XL Programs. Farina will have primary responsibility for existing and new program development, building on his wealth of successful experience in developing the business to this point.

Jim Fowler will also be promoted to executive vice president of XL Programs. To further align and round out the offering for XL Programs, the company’s current Specialty Workers’ Compensation unit will also be incorporated within the XL Programs.

X.L. America Inc. is part of XL Capital Ltd., through its wholly owned subsidiaries provides insurance and reinsurance coverages and financial products worldwide. As of June 30, 2001, XL had consolidated assets of approximately $18.7 billion and consolidated shareholders’ equity of approximately $5.7 billion.