Compensation review of officers of publicly-listed insurers based in Bermuda

Brian O’ Hara, chairman and chief executive officer of both excess liability carrier Exel Ltd. and its main operating subsidiary X. L., was by far the best paid officer in 1996 of all the executives of Bermuda-based insurers that are publicly-listed in the United States, according to a salaries survey conducted by Offshore Business News & Research.The review shows that O’Hara took home a financial package worth $5.52 million for fiscal 1996, more than $2 million greater than the next highest-paid officer, Michael Butt, president and CEO of property catastrophe reinsurer Mid Ocean Ltd.