XL CEO Sees Hard Market Into 2005

NU Online News Service, Aug. 4, 3:50 p.m.EDT?Brian O'Hara, chief executive officer at Bermuda-basedXL Capital Ltd., told analysts that the high-priced hard marketwould continue well into 2005.

"As a frequent visitor to Bermuda, Mark Twain might have said'the demise of the hard market has been greatly exaggerated,'" Mr.O'Hara said of recent reports that suggested that the strongmarketplace condition is coming to a close. His comments on theindustry came during a conference call to discuss XL Capital'ssecond-quarter financial results.

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