XL Chooses Ex-Safeco CEO McGavick to Replace O’Hara

March 17, 2008

XL Capital Ltd. has named Michael S. McGavick as its next CEO. He will officially join XL on May 1, succeeding Brian M. O’Hara, XL’s CEO for the last 13 years, who announced in October 2007 that he would retire from the position by mid-2008.

O’Hara, who is currently serving as acting chairman of XL’s Board of Directors, will serve as chairman during the final year of his current term on the board which expires in April 2009, “to provide,” XL said, “continuity.”

McGavick’s appointment is subject to immigration approval from the Government of Bermuda. He served as president and CEO of the Seattle-based Safeco Corp. from January 2001 to December 2005.

Prior to joining Safeco, McGavick spent six years with the Chicago-based CNA Financial Corp., where he held various senior executive positions before becoming president and chief operating officer of the company’s largest commercial insurance operating unit. He also served for two years as director of the American Insurance Association’s Superfund Improvement Project in Washington D.C.

Most recently McGavick ran for a seat in the U.S. Senate in the state of Washington but lost.

Source: XL Capital – www.xlcapital.com

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