Mr. Coelho, formerly Controller of XLI, will be based in Bermuda and will focus on examining and enhancing the financial strategies of XLI. His current projects include streamlining reporting and recording processes, initiating shared data warehousing, and implementing new underwriting systems for the Company.
XLI President and Chief Executive Officer Clive Tobin said: "During his six years with XLI, Chris Coelho has made a significant contribution to the success of the Company. In his new role he will be a key member of the executive team which will set the financial strategy for XL Insurance. His wealth of experience and vision will be critical in creating new opportunities for improvement and growth."
Mr. Coelho, a Chartered Accountant, joined XL Insurance Ltd in 1993 after 8 years with the public accounting firm PriceWaterhouseCoopers. He was promoted from Controller of Investment Operations to Controller of XL Insurance Ltd in 1997.
Mr. Coelho said: "I am proud that my appointment as CFO will allow me to play a part in shaping the financial future of XLI. As a Bermudian, I am also pleased that I can participate in the success of a company that is a leader in our international business community and a champion of Bermuda's role as a premier financial center."
XL Capital Ltd, through its wholly-owned subsidiaries, including XL Insurance Ltd, XL Mid Ocean Reinsurance Ltd, XL Capital Products Ltd, The Brockbank Group plc and NAC Re Corp., provides insurance and reinsurance coverages and financial products worldwide. As of September 30, 1999, XL Capital Ltd had consolidated assets of approximately $14.1 billion and consolidated shareholders' equity of $5.4 billion. Additional information is available on the XL Capital Ltd web site: www.xl-capital.com.