This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

XL Hires James Hohmann To Head New Life Insurance Unit

22 May 2001

Hamilton, Bermuda: 22 May 2001 - XL Capital Ltd (NYSE: XL, BSX:XL.BH) ("XL" or "the Company") announced today that it has appointed James E. Hohmann to head XL's new life unit. Mr Hohmann will be President and Chief Executive Officer of this unit, which is to be called XL Capital Life and Annuity.

Mr. Hohmann, who was formerly President of Zurich Kemper Life's Financial Institutions division, will be responsible for developing an institutionally-oriented life and annuity business as a core product area of the Company's Financial Products and Services operations.

Said Mr. Hohmann: "XL Capital Life and Annuity provides an exciting and challenging opportunity to start a non-traditional life operation with an emphasis on institutional customers. This business will play to XL's strengths, which include a strong balance sheet, superior ratings, innovation, and investment capabilities that incorporate expertise with alternative investments."

Robert R. Lusardi, Executive Vice President of XL and Chief Executive of XL Financial Products and Services, said: "This is further evidence of our commitment to the life business and the continued diversification of XL's global operations. This is a key executive appointment for XL and we are fortunate to have found in Jim an individual with the right blend of business,

financial and actuarial skills along with a proven ability to build new businesses. At Zurich,

Jim's Financial Institutions area created a bank-owned life insurance business, a funding agreement operation and a rapidly growing variable annuity segment. He was also responsible for new product development and the wholesale life business. We intend to leverage his product innovation and business development skills as we establish the business."

Mr. Hohmann is a graduate of Northwestern University and holds an MBA from the University of Chicago. He is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. Prior to his experience with Zurich, he was Managing Partner of the Chicago office of the consulting firm of Tillinghast, Towers Perrin.

XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As at March 31, 2001, XL had consolidated assets of approximately $17.6 billion and consolidated shareholders' equity of approximately $5.7 billion. More information about XL is available on www.xlcapital.com .