Skip to main content

This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

XL Registration Statements Have Been Declared Effective

Hamilton, Bermuda, 29 November, 2001 - XL Capital Ltd ("XL") (NYSE: XL, BSX:XL.BH) announced today that its Registration Statement on Form S-3 covering resales by the holders of its 20-year, zero-coupon convertible senior debentures due May 23, 2021 and the ordinary shares of XL into which they are convertible and its Registration Statement on Form S-3 covering resales by the holders of its Liquid Yield OptionÔ Notes due September 7, 2021 and the ordinary shares of XL into which they are convertible have each been declared effective by the Securities and Exchange Commission. The convertible senior debentures and the Liquid Yield OptionÔ Notes were originally issued in May 2001 and September 2001, respectively, in private placements to qualified institutional buyers in accordance with Rule 144A.

XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As at September 30, 2001, XL had consolidated assets of approximately $25.7 billion and consolidated shareholders' equity of approximately $4.8 billion. More information about XL is available on www.xlcapital.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the convertible debentures or any other securities, nor will there be any sale of the convertible debentures or any other securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.