XL Capital Products provides financial guaranty insurance and reinsurance for asset-backed, future flow and municipal obligations. The policies usually cover non-payment of principal and interst when due.

Mr. Stevens will be based in Bermuda and will be responsible for establishing a credit surveillance unit for the business portfolio in addition to underwriting the transactions.

He was the former senior managing director of MBIA Insurance Corp., an insurer of municipal bonds in the US.

*** BARBARA DOWLING has been appointed to vault and mutual fund administrator at Lines Overseas Management Ltd. WENDY TROTT has been appointed to physical securities supervisor and FAITH DeROZA has been appointed as general office administrator.

David Stevens Wendy Trott Barbara Dowling Faith DeRoza