Royal and SunAlliance USA Names New CEO

May 29, 2002

Royal & SunAlliance USA, the Charlotte, N.C.-based member of the Royal & Sun Alliance Insurance Group plc, announced that Steve Mulready will replace Terry Broderick, who is retiring, as president and CEO. Mulready will assume his new duties June 30.

Currently, Mulready serves as president and chief operating officer of the company’s commercial division. Previously, he was president of Royal & SunAlliance’s specialty insurance division.

Broderick has been with the company for 30 years, and became CEO in 2000.

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