EXEL Ltd. died yesterday at his home in Massapequa, New York, after a prolonged illness. He was 69.

Mr. Kevany, who retired in March as chairman of EXEL, is survived by his wife of 40 years, four sisters, two brothers, two children and three grandchildren.

He will be remembered by a lengthy list of friends, including from here in Bermuda, many of whom were in the insurance business.

Mr. Brian O'Hara, president and CEO of EXEL Ltd., said: "We are all deeply saddened by the passing of Michael Kevany and extend heartfelt condolences to his family.

"Mike led the company through a period of tremendous growth and development.

We will miss his counsel and wonderful sense of humour.'' Mr. Kevany had served not only as chairman, president and CEO of the holding company EXEL Ltd., but of also its wholly owned insurance subsidiary, X.L.

Insurance Company Ltd.

He joined XL in Bermuda in 1988, after a successful career in North America.

He moved from his native Ireland to Montreal in 1954, where he began his insurance career in risk management for Barclay's Bank.

Mr. Kevany was with the Royal Insurance Company for 20 years in various underwriting, marketing and management positions in personal, commercial and special risk business.

He joined CIGNA Corporation in 1981 and served as president of its property-casualty special risk division. He also served as president of the Casualty & Surety Club of New York in 1986 and as a director of the Insurance Federation of New York. He was a past governor of the Drug & Chemical Club of New York.

In lieu of flowers, donations may be sent to a memorial fund set up in his name. Before his death, Mr. Kevany directed that donations be used by the company to fund the purchase of medical equipment for the King Edward VII Memorial Hospital.

Donations may be sent to X.L. Insurance Co. Ltd. -- Michael J. Kevany Memorial Fund, P.O. Box HM 2245, Hamilton HM JX.

Funeral services are to be held in New York on Friday and a memorial service will be held in Bermuda at a later date.