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:
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—Thomas Paine (1737–1809)
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There are only two great currents in the history of mankind: the baseness which makes conservatives and the envy which makes revolutionaries.”
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—Ralph Waldo Emerson (1803–1882)