XL named Charles F. Barr general counsel, and said Associate General Counsel Kirstin Gould will assume the role of chief corporate legal officer and company secretary in addition to her existing responsibilities.

The company said Mr. Lusardi is leaving at the end of the year to pursue personal interests and "will work closely with Mr. Giordano until then to ensure an orderly transition, and will provide continuing advisory services to XL, particularly in the area of strategic investments."

A statement from XL quoted Mr. Lusardi as saying he had enjoyed "seven terrific years since I agreed to join XL. I have had the opportunity to be chief financial officer of a dynamic organization, to be part of a large number of successful strategic initiatives and investments, and to help start and lead four businesses from the ground up."

The businesses, he said, are in excellent shape and have reached the point where they will benefit from someone who has a different set of skills and background. "I can't think of a better person for the role than Paul Giordano," he said. "I am looking forward to returning to my roots as a strategic, transaction-oriented executive, now with experience on both sides of the aisle."

Brian M. O'Hara, president and chief executive Officer of XL, said the executive management changes are "intended to allow for a talented group of our senior management to build on their strengths and capabilities."

Mr. O'Hara said he would miss Mr. Lusardi's "keen intellect and negotiating skills, but look forward to calling on Rob in his advisory capacity. We are, however, very pleased that Paul Giordano has accepted his new role. Paul brings considerable experience from his financial services background to this important segment of our operations."

XL Capital Ltd., through worldwide subsidiaries, is a provider of insurance and reinsurance coverages and financial products and services to industrial, commercial and professional service firms, insurance companies and other enterprises.