Bermuda-based XL Capital Ltd. paid retiring Chief Executive Officer Brian M. O'Hara $7.83 million in 2007, according to a proxy statement filed with the Securities and Exchange Commission.
The company's summary of top executives' compensation reported Mr. O'Hara's total take in 2006 was $9 million.
Yesterday the company announced that Mr. O'Hara would be replaced as CEO May 1 by former Safeco CEO Mike McGavick, but while retiring as CEO Mr. O'Hara will stay on as chairman until April 2009.
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