XL Capital Ltd. (XL)

XL Capital Ltd., through its subsidiaries, provides insurance and reinsurance coverages to industrial, commercial, and professional service firms, as well as insurance companies and other enterprises worldwide. It operates through four segments: Insurance, Reinsurance, Life Operations, and Other Financial lines. The company’s Insurance segment offers risk management products, including property and casualty insurance programs, umbrella liability, product recall, workers’ compensation, property catastrophe, and primary master property and liability coverages; and specialty lines products comprising professional liability, environmental liability, political risk, aviation and satellite, marine and offshore, equine, and other insurance coverages. Its Reinsurance segment provides treaty and facultative reinsurance to primary insurers of casualty and property risks, including general liability, professional liability, automobile and workers’ compensation, commercial and personal property risks, property catastrophe, property excess of loss, property pro-rata, marine and energy, aviation and satellite, and various other reinsurance, as well as specialty risks comprising fidelity and surety, and ocean marine. XL Capital’s Life Operations segment offers a range of underlying lines of life assurance, including term assurances, group life, critical illness cover, immediate annuities, disability income cover, and short-term accident and health, as well as life reinsurance. The Other Financial lines segment comprises guaranteed investment contract (GIC) and funding agreement (FA) businessses. GICs and FAs provide users with guaranteed rates of interest on amounts invested with the company. The company, formerly known as EXEL Limited, was founded in 1986 and is headquartered in Hamilton, Bermuda.

For the nine months ended 30 September 2006, XL Capital Ltd.'s revenues decreased 17% to $7.34B. Net income applicable to Common totaled $1.25B vs. a loss of $470.4M. Revenues reflect decreased net premiums earned and the presence of net realized loss on investments vs. a gain in comparable prior period. Net income benefited from lower acquisition costs, decreased claims & policy benefit expense and lower amortization of intangible assets.