Fiona E. Luck, executive vice president of XL's Group Operations, has been named 2003 Insurance Woman of the Year by the Association of Professional Insurance Women (APIW).

An awards ceremony will be held in Ms Luck's honour on June 10 in New York City.

The APIW Insurance Woman of the Year Award was first presented in 1976 and recognises women with outstanding achievements in the insurance industry. It is the leading organisation dedicated to the advancement of professional insurance women and to the recognition of their contributions to the industry. XL president and chief executive officer, Brian M. O'Hara, said: "We are thrilled that the APIW has acknowledged Fiona for her outstanding work in the insurance industry.

This award recognises Fiona's tremendous dedication and hard work over the years and all of us at XL are proud to work with her. She is a valuable asset, not only to XL, but to the industry as a whole. We congratulate Fiona for this well-deserved recognition."

Ms. Luck began her insurance career in 1983 with Marsh & McLennan. In 1992 she became one of the youngest managing directors at Marsh & McLennan and was selected to head Marsh's Global Broking operations in Bermuda.

In 1997, she joined ACE Bermuda, as Senior vice president of financial lines, where she was responsible for all Alternative Risk operations.

She was later made executive vice president of joint ventures and strategic alliances.

In 1999, Ms. Luck joined XL in the newly created role of executive vice president of Group Operations. She is responsible for group strategic planning, business planning, global human resources, global information technology, global marketing, internal audit and for the integration of acquisitions and start-ups.

Named a Rising Star by Business Insurance magazine in 2002, Ms Luck is also a Trustee of the Bermuda Biological Station for Research, a Bermuda Government appointee to the National Drug Commission, and a Trustee of the Masterworks Foundation, a registered Bermuda charity and trust.

Ms Luck obtained her Bachelor of Arts degree in Economics and Finance from Manchester University in England and is a member of the Institute of Chartered Accountants of Scotland.