XL Group CFO Irene Esteves Is Leaving Firm

May 24, 2011

XL Group, which maintains its executive offices in Bermuda, announced today [May 24[ 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 M. Esteves’ replacement.  Mike McGavick, CEO  of XL, stated, “Irene has made many contributions to XL during her tenure.  Irene has been presented with an extraordinary opportunity.

“We’ve always recognised 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 honoured 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.”

XL was formed in 1986 in response to the unmet risk management needs of 68 of the world’s largest companies. 

Through its subsidiaries, is XL 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

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