Close to a dozen people from XL, including chief executive officer Mike McGavick, chief executive of Reinsurance Operations Jamie Veghte, and XL Insurance head of claims operations for Bermuda and Latin America Chris Johnson, are planning to go bald for the St. Baldrick's Foundation 10th annual fundraiser for childhood cancer research.

The Bermuda-based trio, along with several colleagues in the US, have so far raised more than $132,000 in contributions. The XL shavees, also known as team XL Group and led by Mike McGavick, are in third place internationally for the most donations raised by a St. Baldrick's team this year. Their goal is $200,000.

"We all know that research to reduce or end the scourge of children's cancer is vital," Mr. McGavick said. "Going bald is a small thing for me to do in solidarity with suffering children."

Jamie Veghte, who has raised more than $60,000 — the most funds so far among his XL colleagues and is in third place in terms of overall St. Baldrick's shavees this year, said after years of watching friends in the industry support the St. Baldrick's Foundation by shedding their locks he felt compelled to do his part this year.

"I have been very proud to see many friends help such a wonderful cause and watch it grow so dramatically over the years," he said. "I am particularly gratified by the substantial contribution towards this cause from members of the insurance and reinsurance community."

Mr. Veghte and Mr. McGavick will go under the razor on Friday at the Bermuda Athletic Association gymnasium.

Mr. Johnson, who had his head and beard shaved by his barber at XL House on March 16, said he was inspired to participate by strong and courageous relatives and friends whose lives were touched by cancer.

People from various XL offices, including New York, Exton, Hartford, and Bermuda, have supported the XL team's efforts.