XL CEO Urges Industry Leaders to Adopt ‘Coordinated Approach’ to Solve Global Problems

May 12, 2006

XL Capital Ltd President and CEO Brian O’Hara led off XL’s 2nd annual global risk conference in Berlin Germany with a plea to the heads of some of the world’s leading organizations to adopt an industry- based coordinated approach to global problem solving and the planning of Corporate Social Responsibility programs.

In keeping with the conference focus – “One World Without Borders” –
O’Hara challenged nearly 400 attendees to look beyond the numbers relating to catastrophes such as hurricanes and earthquakes to the human tragedies that they represent.

“Society depends on us for more than just the payment of claims,” O’Hara continued. “It’s all about adding value, about raising awareness of the issues, helping prepare for the worst, while hoping for the best. We would like to see an industry-based coordinated approach to Corporate Social Responsibility planning being adopted, which could make better use of scarce resources in our risk industry.”

He suggested that in the longer term there could be a new role for companies, which could help shape a new global governance model and see more companies becoming partners in global problem solving.

“What’s needed are leaders committed to changing the way society organizes itself and the way we approach social problems. These leaders will be doing more than giving food or money away. They will be teaching the world to reorganize itself along more long-term sustainable lines,” he stated.

“We are here to discover new perspectives,” O’Hara concluded. “I would like us to apply ourselves to finding out if there is a better way of creating and spreading prosperity.”

During the conference, a diverse range of international speakers and panelists will critically examine major economic, political, and social issues with the aim of helping Congress attendees gain a better understanding of the changing face of risk and its evolving impact on the business world.

Speakers scheduled for the Congress are: Richard von Weizsacker, President of Germany (1984-1994); Jose Maria Aznar, Prime Minister of Spain (1996-2004); The Rt. Hon. Lord Christopher Patten, Chancellor of Oxford University, last British Governor of Hong Kong (1992-1997) and former EU Commissioner; Huguette Labelle, Chair of Transparency International; Steve Forbes, President and CEO Forbes Inc., Editor-in-Chief Forbes Magazine; Alan Brown, CIO Schroders plc; Peter R. Fisher, Chairman of BlackRock; Neil Ostrer, Co-founder of Marathon Asset Management Ltd; Joachim Fels, Morgan Stanley; Benazir Bhutto, former Prime Minister of Pakistan (1998-1990, 1993-1996); and Jonathan Aiken, former CNN Anchor and current Communication Director, Red Cross.

An official Congress Website containing speaker profiles, location details and other general information can be accessed at: www.xlcongress.com/berlin .

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