Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]


Basic earnings per ordinary share &
ordinary share equivalents outstanding:
(U.S. dollars in thousands, except per share amounts)		2012		2011		2010
	Net income (loss) attributable to XL Group plc	$	651,134	$	(474,760)	$	603,550
	Less: preference share dividends (1)		-		-		(34,694)
	Add: gain on redemption of the Redeemable Series C preference ordinary shares		-		-		16,616
	Net income (loss) attributable to ordinary shareholders	$	651,134	$	(474,760)	$	585,472
	Weighted average ordinary shares outstanding		307,372		312,896		336,283
	Basic earnings per ordinary share & ordinary share equivalents outstanding	$	2.12	$	(1.52)	$	1.74

Diluted earnings per ordinary share &
ordinary share equivalents outstanding:
	Weighted average ordinary shares outstanding - basic		307,372		312,896		336,283
	Impact of share based compensation and certain conversion features		2,910		-		1,426
	Weighted average ordinary shares outstanding - diluted		310,282		312,896		337,709
	Diluted earnings per ordinary share & ordinary share equivalents outstanding	$	2.10	$	(1.52)	$	1.73
Dividends per ordinary share		$	0.44	$	0.44	$	0.40

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(1) During the first quarter of 2011, the Redeemable Series C preference ordinary shares were reclassified as Non-controlling interest –Redeemable Series C preference ordinary shares and Series E preference ordinary shares were reclassified as Non-controlling interest in equity of consolidated subsidiaries on the Company's consolidated balance sheet as a result of changes in ownership structure arising as part of the Company's Redomestication of the ultimate parent holding company to Ireland as of July 1, 2010. Accordingly, preference share dividends declared are recorded as Non-controlling interests rather than as Preference share dividends within the consolidated statements of income from July 1, 2010 onwards. See Note 1, “General,” for additional details. During the third quarter of 2011, all outstanding Redeemable Series C preference ordinary shares were repurchased and canceled.