XL Group plc Appoints Philip M. Jacobs as Global Head of Capital Management, Corporate Development and Tax

DUBLIN, Ireland, June 24, 2013 /PRNewswire/ -- XL Group plc ("XL" or the "Company") (NYSE: XL) today announced that the Company has appointed Philip M. Jacobs as Global Head of Capital Management, Corporate Development and Tax. Reporting to Peter R. Porrino, Executive Vice President and Chief Financial Officer, Mr. Jacobs will be based in Stamford, Connecticut.

Commenting on the appointment, Mr. Porrino said: "We are delighted to welcome Phil to XL and look forward to his contributions. I've known Phil for over 25 years and he will be a tremendous addition to XL's finance team. Phil is well-positioned to assume this critical role given his 30-year career in financial services, background in capital markets, mergers and acquisitions and experience leading global finance functions."

Mervyn Skeet continues as Global Head of Tax and a member of XL's Finance Leadership Team, and will take on additional responsibilities in the ongoing transformation of the Company's global finance function to one that is leading edge in the way in which it assembles, analyzes and delivers information.

Mr. Jacobs joins XL Group from Barclays Bank where he served as Global Head of Tax, leading all aspects of Barclays' tax operations worldwide and managing a global team.  Prior to joining Barclays in 2009, Mr. Jacobs served at AIG as Global Tax Director and then as a Senior Vice President reporting to the Vice Chair-Chief Restructuring Officer immediately following the Federal Reserve Bank of New York's bailout of AIG. Prior to AIG, Mr. Jacobs was a senior tax leader at GE Capital.

About XL Group plc

XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at XL House, 8 St. Stephen's Green, Dublin 2, Ireland. To learn more, visit www.xlgroup.com

SOURCE XL Group plc