Dividends

12 Months Ended

Dec. 31, 2012

Dividends Disclosure [Abstract]

Dividends

21. Dividends

In 2012, four quarterly dividends of $0.11 per share were paid to all ordinary shareholders of record as of March 15, June 15, September 14 and December 14. In 2011, four quarterly dividends of $0.11 per share were paid to all ordinary shareholders of record as of March 15, June 15, September 15 and December 15. In 2010, four quarterly dividends of $0.10 per share were paid to all ordinary shareholders of record as of March 15, June 15, September 15 and December 15.

The Company paid dividends to Series C, Series D and Series E preference shareholders for the three years ended December 31, as follows:

(U.S. dollars in millions)	2012		2011		2010
Series C preference ordinary shares (1)	$	-	$	5.3	$	7.9
Series D preference ordinary shares (2) (3)	$	14.0	$	-	$	-
Series E preference ordinary shares (4)	$	65.1	$	66.2	$	69.9

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(1)At December 31, 2011, no Series C preference ordinary shares were outstanding.

(2)On October 26, 2012, the Company announced that the Board of Directors of XL-Cayman resolved to pay a dividend of $8.8173 per share on XL-Cayman's Series D Preference Ordinary Shares. The dividend was paid on January 15, 2013 to all shareholders of record as of January 1, 2013.

(3)On February 22, 2013, the Company announced that the Board of Directors of XL-Cayman resolved to pay a dividend of $8.5575 per share on XL-Cayman's Series D Preference Ordinary Shares. The dividend will be paid on April 15, 2013 to all shareholders of record as of April 1, 2013.

(4)On February 22, 2013, the Company announced that the Board of Directors of XL-Cayman resolved to pay a dividend of $32.50 per share on XL-Cayman's Series E Preference Ordinary Shares. The dividend will be paid on April 15, 2013 to all shareholders of record as of April 1, 2013.