departure of its chairman, Mr. Ian Heap, to become president of newly-formed Mid Ocean Reinsurance Company.

Mr. Michael J. Kevany has been appointed as the new chairman of EXEL, in addition to his position as the company's chief executive officer.

As revealed in The Royal Gazette several weeks ago, Mr. Brian M. O'Hara is assuming Mr. Kevany's role of CEO of XL Insurance, EXEL's wholly-owned subsidiary, effective December 1.

Mr. O'Hara was previously president and chief operating officer of XL. In his new position, Mr. O'Hara will be responsible for all of XL's underwriting, financial and claims operations.

Mr. Robert J. Cooney has been appointed executive vice president of XL, with full responsibility for all underwriting matters.

Mr. Cooney, who was previously a senior vice president, will also assume his new position on December 1.

Mr. James J. Ansaldi, senior vice president of XL, remains in charge of the professional liability operation.

In addition, Mr. Ansaldi has taken on the responsibility for the marketing operation, reporting directly to Mr. O'Hara for that function.

EXEL Ltd., through XL Insurance and its other wholly-owned subsidiary, XL Europe Insurance, provides general liability, directors and officers liability and professional liability coverage to industrial, commercial and other enterprises, directors and officers of such enterprises and professional service firms on a worldwide basis.

Michael J. Kevany.