XL Insurance Appoints Seraina Maag Chief Executive for North America Property & Casualty

Seraina Maag has been named Chief Executive of the North America Property & Casualty (P&C) unit of XL Insurance (New York), XL Capital Ltd's (NYSE:XL) global insurance operations. She succeeds Dennis Kane, who is retiring at the end of the year.

Maag most recently headed the Zurich North America Commercial, Specialties Business Unit, managing all aspects of that operation with offices across the United States. She is a member of the World Economic Forum Young Global Leaders group. Upon joining XL Insurance, she will report to David Duclos, XL's Chief Executive of Insurance Operations, and be based in New York.

Commenting on the appointment in a press release, Duclos said: "We couldn't be more pleased to appoint Seraina to lead our North American P&C operation and are delighted to count on her broad industry experience and background in underwriting, finance and business line management. Her experience will allow her to play a critical role in our business and positions us well to build on the growing momentum within XL Insurance."

Prior to her most recent role, Maag was financial officer for Zurich's North America Commercial Specialties Business after spending four years running Investor Relations & Rating Agencies for Zurich Financial Services in Switzerland. Before joining Zurich in 2002, Maag was a partner and financial analyst for NZB Neue Zuercher Bank in Switzerland. Between 1990 and 2000 she held various senior management positions with Swiss Re in Switzerland and Australia.

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