Corbally Named COO for XL Weather & Energy

NU Online News Service, Sept. 23, 10:59 a.m. EDT?XL Weather & Energy Inc. announced the appointment yesterday of Michael Corbally as senior managing director and chief operating officer.[@@]

The Stamford, Conn.-based risk product firm is a unit of Bermuda-based XL Capital Ltd. Mr. Corbally will report to Robert R. Lusardi, chief executive of XL's Financial Products and Services Operations.

Mr. Corbally was co-founder of XLWE in July 2000 and was responsible for establishing and managing its risk management portfolio. Most recently, he oversaw the company's strategic development in integrating its unit outage business and the development of its temperature-contingent energy risk management product line.

Prior to that, Mr. Corbally worked at Enron from 1996 until 2000 where, as director of Weather Trading, he helped develop and manage non-catastrophic weather-based derivative products for the US, Canada and Europe.

XL Weather & Energy Inc. is a provider of innovative risk management products that allow businesses to mitigate their non-catastrophic weather and contingent energy risk.

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