XL Capital yesterday announced it will be the main financial sponsor in an executive training and development programme designed to help the People?s Republic of China identify and nurture future leaders among the country?s insurance regulators and executives.

XL is the main financial sponsor of the initiative, the China Insurance Industry Executive Leadership Programme, which has been developed in conjunction with the Aresty Institute of Executive Education at the Wharton School of the University of Pennsylvania. Co-sponsored by the GuoFa Capital Market Research Center, the program is the first Sino-foreign insurance leadership course endorsed by the China Insurance Regulatory Commission (CIRC) to include sessions in both China and other countries, according to XL Capital.

The five-day programme will be conducted in two modules and is to be led by university professors, insurance scholars and executives, including XL chairman, Michael P. Esposito, Jr., and XL president and chief executive officer, Brian M. O?Hara. It will include a series of discussions highlighting strategic choices facing the government and insurance industry on both local and international levels, and address challenges and opportunities presented by China?s emergence in the global market. Course participants will also examine the fundamental principles of risk and capital management. A second module will take place in October in Philadelphia and Bermuda.

Mr. O?Hara said:?As a cooperative partner, advisor and investor in the Chinese insurance industry, we are committed to its long-term development. Indeed, the recent opening of XL?s Representative Office in Beijing was a tangible first step that demonstrated our commitment to a country which is fast becoming a major player in the global economy. Today, we are pleased to be able to take another step by offering our support to the China Insurance Industry Executive Leadership Programme.?