CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011		Dec. 31, 2010
ASSETS
Fixed maturities, at fair value (amortized cost: 2011, $25,771,715; 2010, $27,322,842)	$ 26,190,025	[1]	$ 27,142,105	[1]
Equity securities, at fair value (cost: 2011, $480,685; 2010, $56,737)	468,197	[2]	84,767	[2]
Short-term investments, at fair value (amortized cost: 2011, $359,378; 2010, $450,491)	359,063		450,681
Total investments available for sale	27,017,285		27,677,553
Fixed maturities, held to maturity at amortized cost (fair value: 2011, $2,895,688; 2010, $2,742,626)	2,668,978		2,728,335
Investments in affiliates	1,052,729		1,127,181
Other investments	985,262		893,570
Total investments	31,724,254		32,426,639
Cash and cash equivalents	3,825,125		3,022,868
Accrued investment income	331,758		350,091
Deferred acquisition costs	668,017		633,035
Ceded unearned premiums	596,895		625,654
Premiums receivable	2,411,611		2,414,912
Reinsurance balances receivable	220,017		171,327
Unpaid losses and loss expenses recoverable	3,654,948		3,671,887
Receivable from investments sold	59,727		21,716
Goodwill and other intangible assets	407,321		839,508
Deferred tax asset	115,601		143,525
Other assets	610,803		694,782
Total assets	44,626,077		45,015,944
Liabilities:
Unpaid losses and loss expenses	20,613,901		20,531,607
Deposit liabilities	1,608,108		1,684,606
Future policy benefit reserves	4,845,394		5,075,127
Unearned premiums	3,555,310		3,484,830
Notes payable and debt	2,275,327		2,457,003
Reinsurance balances payable	90,552		122,250
Payable for investments purchased	58,494		34,315
Deferred tax liability	98,420		105,667
Other liabilities	711,161		835,590
Total liabilities	33,856,667		34,330,995
Commitments and Contingencies
Non-controlling interest - Redeemable Series C preference ordinary shares, 20,000,000 authorized, par value $0.01; Issued and outstanding: (2011, nil; 2010, 2,876,000)	0		71,900
Shareholders’ Equity:
Ordinary shares, 999,990,000 authorized, par value $0.01; Issued and outstanding: (2011, 315,645,796; 2010, 316,396,289)	3,157		3,165
Additional paid in capital	8,938,678		8,993,016
Accumulated other comprehensive income	583,064		100,795
Retained earnings (deficit)	(99,961)		513,777
Shareholders’ equity attributable to XL Group plc	9,424,938		9,610,753
Non-controlling interest in equity of consolidated subsidiaries	1,344,472		1,002,296
Total shareholders’ equity	10,769,410		10,613,049
Total liabilities, redeemable preference ordinary shares and shareholders’ equity	$ 44,626,077		$ 45,015,944

[1] Included in the table above are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions, at their fair value of $386.1 million and $757.8 million at December 31, 2011 and 2010, respectively. These securities are reflected in the table based on their call date and have net unrealized losses of $108.8 million and $143.7 million at December 31, 2011 and 2010, respectively.

[2] Included within equity securities are investments fixed income funds of $91.6 million and nil at December 31, 2011 and 2010, respectively.