Kronenberg Retires From XL
NU Online News Service, June 21, 2:37 p.m. EST?William Kronenberg III, chief executive officer of XL Environmental and XL Programs, will be taking early retirement to pursue personal interests, XL Capital Ltd. of Hamilton, Bermuda announced today.
Mr. Kronenberg joined XL in 1999 when the firm acquired ECS, Inc., a leading provider of environmental risk management services.
XL said Mr. Kronenberg will be succeeded by Rich Banas, previously executive vice president and chief underwriting officer of XL's Insurance Operations.
Mr. Banas joined XL Insurance management last year after serving as a managing director of One Beacon and, previously, senior vice president of insurance operations at CGU.
Nicholas M. Brown, Jr., chief executive of XL's insurance operations said Mr. Kronenberg, "built XL Environmental from the ground up and over the last 17 years he created a highly regarded niche operation in this complex specialty business. While we were disappointed to learn of his decision to retire from the company, we are fortunate that he developed a strong management team that is well positioned to continue to grow the business.
"I am also delighted that we had an internal candidate with the talent and experience to fill Bill's position."
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