XL Capital Ltd. plans to raise an estimated $2.8 billion in newcapital through two equity offerings.
The Bermuda-based property-casualty insurer and reinsurer willsell about $2.15 billion in ordinary shares and raise another $650million from an offering of equity security units.
In addition to the $1.5 billion in after-tax losses the companyincurred in the third quarter from catastrophes, XL must alsocontend with an unfavorable arbitration award in connection withits 2001 acquisition of Winterthur Swiss Insurance Company.
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