announced today that EXEL has obtained a secondary listing on The BSX for the trading of its ordinary shares. The first day of trading will be on Monday, July 8, 1996.
"This listing is a further demonstration of EXEL's commitment to Bermuda and its growth as an investment centre," stated Brian M. O'Hara, President and Chief Executive Officer of EXEL Limited.
"We are pleased that EXEL is joining The Bermuda Stock Exchange," noted W. William A. Woods, Chief Executive Officer of The BSX. "The support that we get from the international business based in Bermuda is a key ingredient in enabling The BSX to become the world's first truly international, electronic, offshore securities market."
The secondary listing was sponsored by Bermuda International Securities Ltd., the Bank of Bermuda Limited's brokerage arm.
EXEL Limited, through X.L. Insurance company, Ltd., X.L. Europe Insurance and X. L. Reinsurance Company, Ltd. is a leading provider of general liability, directors and officers liability, employment practices and professional liability, excess property insurance and reinsurance coverages to industrial, commercial and professional service firms and other enterprises on a worldwide basis. EXEL Limited, with its primary share listing on the New York Stock Exchange, currently has a market capitalization of more than U.S. $3 billion.