XL Capital, a provider of insurance and reinsurance coverage, has named Michael McGavick as the next CEO of the company.
Mr McGavick will join the company on May 1, 2008, replacing Brian O’Hara, CEO for the last 13 years.
To provide continuity during the transition, Mr O’Hara, who is currently serving as acting chairman of XL’s board of directors, will serve as chairman during the final year of his current term on the board which expires in April 2009.
Mr McGavick, whose appointment is subject to immigration approval from the government of Bermuda, was president and CEO of the Seattle-based Safeco Corporation from January 2001 to December 2005.
Robert Glauber, lead director of XL Capital, said: Mike is an extremely talented insurance executive with experience leading Safeco and, before that, the commercial lines business at CNA.