XL to Offer Primary D&O Coverage Across Europe

June 15, 2004

XL Europe Limited, an XL Capital Ltd company, announced that XL’s worldwide professional lines operation, XL Insurance Professional, is to offer primary Directors & Officers (D&O) liability insurance coverage in Europe in addition to its excess coverages, effective immediately.

The announcement was made at the Association of Insurance and Risk Managers’ (AIRMIC) annual conference, taking place in Manchester, England.

XL will use its own proprietary policy form, available in several languages (Dutch, English, French, German and Swiss German) to offer meaningful capacity on a selective basis.

Chief Executive of XL Insurance Operations, Clive Tobin, said: “We are positioning ourselves to be a one-source provider of coverage relevant to our risk management clients and D&O is an increasingly important focus for corporations. We want to demonstrate our continuing commitment to position XL’s insurance segment companies as leaders in the global risk management business by bringing meaningful capacity to bear on D&O programs.”

Chief Underwriting Officer, XL Professional Lines, Rich Banas, said: “This is a natural evolution in Europe where we have built a strong reputation for providing coverage on an excess basis. We believe this will be welcomed by many clients who have been looking for choices in the primary area, and we intend to be able to offer our capacity on a primary basis whilst maintaining our disciplined underwriting philosophy.”

For more information, call XL Europe Limited at:+44 (0) 207 929 2181.

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