into a single unit.

Bruce Connell has been appointed as president of XL Financial Products & Services . The company wants to develop a book of financial risk products built on Exel's specialty reinsurance business.

"By concentrating our expertise in the financial products area, Exel will be able to leverage its substantial capabilities at a time when the insurance and capital markets are converging,'' Mr. Connell stated in a press release.

WHITE APPOINTED CHIEF FINANCIAL OFFICER APP White appointed chief financial officer Wilena White has been named chief financial officer of Staples Holdings Ltd.

Ms White was previously vice president of finance and chief financial officer of Toronto-based ITP Nelson , a publisher of educational books. She held a similar position with Tritor Developments Ltd. , a real estate company. She was previously a senior manager with Ernst & Young in Toronto.

Staples president Michael Johnson said the company was pleased to attract someone with Ms White's credentials.

"Her depth of experience in developing internal systems to streamline accounting procedures and manager customer information will be a key factor in ensuring that Staples and Atlantic Medical International provide a superior level of service to our customers,'' he stated in a press release.

ANNUITY AND LIFE RE COMPLETE TRANSACTION BUC Annuity and Life Re complete transaction Annuity and Life Re Ltd. yesterday announced the completion of an annuity transaction with a leading US insurance company.

The transaction will produce an estimated $1 billion of annuity premium on September 30, 1998.