Bermuda-based insurer XL Capital Ltd. said Seraina Maag will succeed Dennis Kane as chief executive officer of its North America property and casualty insurance business.

Ms Maag moved to the US from Switzerland in 2006 to work at Zurich Financial Services AG's North American commercial specialties unit, XL said yesterday, adding that Mr. Kane is retiring.

Ms Maag is a member of the World Economic Forum Young Global Leaders group, and was named one of Business Insurance magazine's 2009 Women to Watch. Upon joining XL Insurance, she will report to David Duclos, XL's chief executive of insurance operations, and be based in New York.

Mr. Duclos said: "This and other recent appointments demonstrate how XL continues to attract our industry's top talent who find XL to be a respected source of the best underwriting talent and leadership."