A Bermudian has been appointed to one of the most senior positions in one of the Island's top insurance companies.

XL Insurance Ltd., one of the principal insurance operating agents of XL Capital Ltd. has appointed Christopher Coelho chief financial officer, it was announced this week.

Mr. Coelho, formerly the controller of XL Insurance, will be based in Bermuda and will have the job of focusing on examining and enhancing the financial strategies of the major global company.

His current projects include streamlining the reporting and recording process, initiating shared data warehousing and implementing new underwriting systems.

Mr. Coelho is a chartered accountant and joined XL Insurance Ltd in 1993 after eight years with the public accounting firm PricewaterhouseCoopers.

He was promoted from controller of investment operation to controller of XL Insurance in 1997.

Mr. Coelho said: "I am proud that my appointment as CFO will allow me to play a a part in shaping the financial future of XL Insurance. "As a Bermudian I am also pleased that I can participate in the success of a company that is a leader in our international business community and a champion of Bermuda's role as a premier financial centre.'' XL Insurance Ltd.'s president and chief executive officer, Clive Tobin said: "During his six years with us, Chris has made a significant contribution to the success of the company.

"In his new role he will be a key member of the executive team which will set the financial strategy for XL Insurance.

"His wealth of experience and vision will be critical in creating new opportunities for improvement and growth.'' BUSINESS BUC