SAN FRANCISCO (Thomson Financial) - Michael Esposito has resigned as chairman of XL Capital Ltd., the Hamilton, Bermuda-based company said late Friday.
Esposito will continue as chairman of Security Capital Assurance Ltd., XL's 46%-owned affiliate, XL Capital said.
Earlier this year Esposito said he would step down from XL's board in 2008.
Shares of XL, a global insurance and reinsurance coverage provider, closed down $1.52 at $50.02. Security Capital Assurance shares rose 10 cents to $3.96.
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