president, with responsibility for reinsurance operations.

Mr. Connell became president and chief operating officer of EXEL subsidiary, X.L. Global Reinsurance Co. Ltd., when it was formed in September, having been executive vice president and chief underwriting officer of X.L. Reinsurance Co., Ltd. since 1995.

X.L. Global Re was formed upon completion of EXEL's acquisition of Global Capital Holdings Ltd. this year. Mr. Connell had joined EXEL in 1990 as senior vice president of subsidiary, X. L. Insurance Co., Ltd. EXEL president and CEO, Brian M. O'Hara, said, "With the acquisition of Global Capital Holdings, our reinsurance operations have now become a major contributor to EXEL's revenue and earnings. Bruce has been a valuable member of our management team since joining us in 1990 . . . '' NEW APPOINTMENT -- Bruce Connell