Exhibit 99.1


[XL Capital Logo Omitted]

                                                       XL Capital Ltd
                                                       XL House
                                                       One Bermudiana Road
                                                       Hamilton HM 11
                                                       Bermuda

                                                       Phone    (441) 292 8515
                                                       Fax      (441) 292 5280
Press Release


Contact:  Scott C. Hoy                        Roger R. Scotton
          Investor Relations                  Media Relations
          (441) 294 7201                      (441) 294 7165



           XL CAPITAL LTD ANNOUNCES ESTIMATE OF CLAIMS FROM HURRICANES
                                FRANCES AND IVAN


Hamilton, Bermuda - September 30, 2004: XL Capital Ltd (NYSE:XL) ("XL" or the
"Company") announced today that, based on initial loss reports and preliminary
estimates, it expects to receive net claims arising from Hurricanes Frances and
Ivan of approximately $70 million and $150 million, respectively. The majority
of claims relating to Hurricane Frances are anticipated to be attributable to
the Company's reinsurance segment, while claims relating to Hurricane Ivan are
expected to be split, approximately equally, between its reinsurance and
insurance segments. Approximately 30% of the claims from both Frances and Ivan
stem from the Company's small and middle-market commercial catastrophe insurance
business line. Further, the Company estimates that approximately 25% of the
Hurricane Ivan claims relate to its marine insurance and reinsurance exposure as
a result of Ivan's path through the Gulf of Mexico.

The Company expects that the financial impact of Hurricanes Frances and Ivan,
along with the previously announced financial impact of Hurricane Charley, will
adversely affect its third quarter and full year results but will not materially
affect its overall financial condition. The Company does not yet have an
estimate of claims from Hurricane Jeanne. Separately, the Company expects that
net claims arising from recent storms in the Pacific will not be significant.

XL Capital Ltd, through its operating subsidiaries, is a leading provider of
insurance and reinsurance coverages and financial products and services to
industrial, commercial and professional service firms, insurance companies, and
other enterprises on a worldwide basis. As of June 30, 2004, XL Capital Ltd had
consolidated assets of approximately $45.5 billion and consolidated
shareholders' equity of approximately $7.1 billion. More information about XL
Capital Ltd is available at www.xlcapital.com.





This press release contains forward-looking statements about the effects of
Hurricanes Frances and Ivan on the Company's results of operations and financial
condition. Such statements involve inherent risks and uncertainties. Statements
that are not historical facts, including statements about XL's beliefs or
expectations, are forward-looking statements. These statements are based on
current plans, estimates and expectations. Actual results may differ materially
from those projected in such forward-looking statements and therefore you should
not place undue reliance on them. A non-exclusive list of the important factors
that could cause actual events or results to differ materially from those in
such forward-looking statements include the preliminary nature of reports and
estimates of loss to date, the limited ability of claims personnel to make
inspections to date and the other important factors set forth in XL's most
recent annual report on Form 10-K, quarterly report on Form 10-Q and XL's other
documents on file with the Securities and Exchange Commission. XL undertakes no
obligation to update or revise publicly any forward-looking statement, whether
as a result of new information, future developments or otherwise.

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