In his new role, Mr. Leone will be responsible for directing, administering and coordinating the activities of the Company in support of policies and objectives established by XLI's Chief Executive Officer and its Board of Directors. He will be responsible for Human Resources, Training and Development; Customer Underwriting Services, which include Marketing Research; Treaty Administration, Auditing, Policy Wordings; Document Management and Records and Information Management.
XLI President and Chief Executive Officer Clive Tobin said: "The Director of Internal Operations is a new position whose creation reflects the strategic importance we attach to continually improving operating efficiencies and customer service. Mr. Leone will oversee development of the structure and processes necessary to manage the organization's current activities and its projected growth. His extensive experience acquired from 20 years in the industry will make his professional contribution a key determining factor behind the continued success of the Company."
Mr. Leone, who spent ten years as a civil engineer before entering the insurance industry, joined XLI in 1997 as Senior Vice President and Manager of the Property Underwriting Department after being underwriting manager of Allendale Insurance's New York office. He was promoted to SVP of Customer Underwriting Services for XLI in 1998.
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.