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:
“The custard is setting; meanwhile
I not only have my own history to worry about
But am forced to fret over insufficient details related to large
Unfinished concepts that can never bring themselves to the point
Of being, with or without my help, if any were forthcoming.”
—John Ashbery (b. 1927)
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)