XL Re Announces Changes in Management and Underwriting Structure of Latin America Operations

HAMILTON, Bermuda, Dec. 21  /PRNewswire-FirstCall/ -- XL Re, the global reinsurance operations of XL Capital Ltd (NYSE:XL), today announced changes in the management and underwriting structure of its Latin America operations. The changes are effective immediately.

The operations continue to be led by Stephen Outerbridge, Chief Underwriting Officer and Chief Operating Officer of XL Re Latin America Ltd ("XLRLA").  Mr. Outerbridge is also COO of Brazil and interim President.

Meanwhile, Hernan Moreno has been appointed Regional Chief Underwriting Officer. Mr. Moreno, who is currently based in Sao Paulo, Brazil, will relocate to Bogota, Colombia next year where he will also take up the position of Country Manager. In his new position as Regional CUO, Mr. Moreno will closely be involved with XLRLA's Brazilian operation. Also in Brazil, XLRLA Technical Commercial Director Edson Wiggers has been promoted to Vice President in charge of business development and underwriting operations, reporting directly to Mr. Outerbridge and Mr. Moreno.

In Argentina, Leandro Di Bello remains as Country Manager and head of XLRLA's facultative underwriting team covering Brazil. He has taken on additional duties as Chief Client Officer, coordinating marketing efforts in the Latin America region with a special focus on Brazil.

James H. Veghte, Chief Executive of XL's Reinsurance Operations, said: "This new management and underwriting structure will ensure that XL Re continues to provide clients in Latin America with the high level of service that they have come to expect from us. It is a testimony to the depth of talent and experience within the organization."

Mr. Outerbridge added: "We have a very strong team dedicated to the Latin America market and we look forward to building on the relationships that we have developed over the years in this region."

About XL Re

XL Re is the global brand used by XL Capital Ltd's reinsurance operations. The XL Re companies have more than 350 employees in 11 countries. More information about XL Re companies is available at http://www.xlre.com/.  Through its operating subsidiaries, XL Capital is a leading provider of global insurance and reinsurance coverages to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at http://www.xlcapital.com/.

  Contact:

  David Radulski
  Investor Relations
  [phone]

  Carol Parker-Trott
  Media Relations
  [phone]


DATASOURCE: XL Re Latin America Ltd



CONTACT:  Investors, David Radulski, [phone]; or Media, Carol

Parker-Trott, [phone], both for XL Re Latin America



Web site:  http://www.xlre.com/

http://www.xlcapital.com/ 

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