Last night, XL Capital in Bermuda announced that its presidentand chief executive officer, Brian O'Hara, will retire from thosepositions in the middle of next year, after 20 years with thecompany.

XL said Mr. O'Hara informed the board of directors of hisdecision, prompting the board to implement a successionplan--authorizing a succession committee to lead the new CEOselection process.

In addition, board Chairman Michael Esposito Jr. advised theboard he also will retire from the board upon the appointment ofMr. O'Hara's successor.

"Over the last two decades, including the last 13 years as CEO,Brian has developed a formidable global business franchise, with avalues-based culture built on integrity, which has established arecord of strong performance," Mr. Esposito said in a statement. Henoted that XL has outstanding internal candidates to succeed Mr.O'Hara, who will be carefully considered together with qualifiedoutside candidates.

He continued, "Having served as chairman during the entireperiod Brian has been CEO, I think it is appropriate I step downfrom the board when we complete our search and the new CEO isappointed, and I intend to do so."

Mr. O'Hara said, "I have been privileged to spend the last 20years of my career working with extraordinary talent to build aunique and highly successful global enterprise."

He continued, "Given our current position of strength and ourpositive momentum, I believe it is the right time to begin to handover leadership to the next generation."

The board anticipates that after his retirement as CEO, Mr.O'Hara will serve as chairman during the final year of his currentboard term which expires in 2009, to provide continuity during thetransition.

Separately, another Bermuda company, AXIS Capital HoldingsLimited, announced that the employment agreement of its CEO andpresident, John Charman, has been extended to Dec. 31, 2009.

Previously, in February 2006, AXIS announced that Mr. Charmanwould retire at the end of 2008 as the result of a divorceproceeding in the United Kingdom.