HAMILTON, Bermuda, May 23, 2011 /PRNewswire/ -- XL Group plc (NYSE:
XL) ("XL" or the "Company") announced today that Irene M. Esteves will be leaving the company
following a transition period to pursue an opportunity with a
Fortune 150 Company outside the insurance industry.
XL will initiate a search for Ms. Esteves' replacement.
Mike McGavick, Chief Executive
Officer of XL, stated, "Irene has made many contributions to XL
during her tenure. Irene has been presented with an
extraordinary opportunity. We've always recognized that hiring the
highest caliber executives comes with some risk, and to us this
simply illustrates just how talented our team is. We thank Irene
for the impact she made while at XL, wish her all the best and look
forward to a smooth transition."
Esteves stated, "I am honored to have served as XL's CFO, have
great respect for the team, and am confident in the company's
bright future. Simply put, this was an offer I couldn't pass
up. XL has a deep finance team and I am committed to ensuring
a seamless transition over the coming months."
About XL
XL was formed in 1986 in response to the unmet risk management
needs of 68 of the world's largest companies. This year, as XL
celebrates its 25th anniversary, it remains the company clients
look to for innovative insurance and reinsurance solutions for
their most complex risks. XL Group plc, through its
subsidiaries, is a global insurance and reinsurance company
providing property, casualty, and specialty products to
industrial, commercial, and professional firms, insurance companies
and other enterprises on a worldwide basis. Its principal
offices are located at No. 1 Hatch Street Upper, 4th Floor,
Dublin 2, Ireland. More information about XL Group plc
is available at www.xlgroup.com.
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Contact:
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David Radulski
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Elliott Bundy
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Investor Relations
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Media Relations
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(441) 294-7460
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(347) 561-0276
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SOURCE XL Group plc