Exhibit 12

XL GROUP PLC

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERENCE DIVIDENDS

(U.S. dollars in thousands, except ratios)	Nine Months Ended 2012			Nine Months Ended 2011
Earnings:
Pre-tax income (loss) from continuing operations	$	617,068		$	1,239
Fixed charges		218,286			235,256
Distributed income of equity investees		71,165			144,158
Subtotal		906,519			380,653
Less: Non-controlling interests		(62	)		(130	)
Preference share dividends		75,917			69,561
Total earnings (loss)	$	830,664		$	311,222
Fixed charges:
Interest costs	$	79,685		$	119,057
Accretion of deposit liabilities		54,879			39,100
Rental expense at 30% (1)		7,805			7,538
Total fixed charges		142,369			165,695
Preference share dividends		75,917			69,561
Total fixed charges and preference dividends	$	218,286		$	235,256
Ratio of earnings to fixed charges		5.8			1.9
Ratio of earnings to combined fixed charges and preference dividends		3.8			1.3
Deficiency - fixed charges only	$	N/A		$	N/A
Deficiency - fixed charges and preference dividends	$	N/A		$	N/A

(1) 30% represents a reasonable approximation of the interest factor.

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