History
The company began as "EXEL Limited". Ian Heap was appointed the company’s first CEO in 1987, followed by Michael Kevany in 1989 serving until 1994. Brian O’Hara became XL’s third CEO in 1994 serving in that position until 2008 when Mike McGavick stepped into the CEO position in May of that year.
Two of its former subsidiaries, XL Capital Assurance and XL Financial Assurance, have separated completely and merged to become "Syncora Guarantee", a monoline financial guarantee insurance provider. In 2008, XL made a one-time, $1.74 billion payment to Syncora to end its exposure to the bond insurer.
They currently have naming rights on the XL Center in Hartford, Connecticut.
Read more about this topic: XL Group
Famous quotes containing the word history:
“In history the great moment is, when the savage is just ceasing to be a savage, with all his hairy Pelasgic strength directed on his opening sense of beauty;—and you have Pericles and Phidias,—and not yet passed over into the Corinthian civility. Everything good in nature and in the world is in that moment of transition, when the swarthy juices still flow plentifully from nature, but their astrigency or acridity is got out by ethics and humanity.”
—Ralph Waldo Emerson (1803–1882)
“A people without history
Is not redeemed from time, for history is a pattern
Of timeless moments.”
—T.S. (Thomas Stearns)
“The greatest horrors in the history of mankind are not due to the ambition of the Napoleons or the vengeance of the Agamemnons, but to the doctrinaire philosophers. The theories of the sentimentalist Rousseau inspired the integrity of the passionless Robespierre. The cold-blooded calculations of Karl Marx led to the judicial and business-like operations of the Cheka.”
—Aleister Crowley (1875–1947)