XL Capital Reports Big Net Turnaround

XL Capital Ltd (NYSE: XL) ("XL" or the "Company") yesterday reported net income available to ordinary shareholders for the quarter ended December 31, 2004 of $288.0 million, or $2.07 per ordinary share, compared with a net loss of $314.8 million, or a loss of $2.29 per ordinary share for the quarter ended December 31, 2003. Net income excluding net realized gains and losses(1) for the 2004 fourth quarter was $194.4 million, or $1.40 per ordinary share, compared with a net loss of $349.3 million, or a loss of $2.54 per ordinary share, for the year ago quarter. Net income and net income...