Bermuda-based commercial insurer XL Capital Ltd. will announce its second-quarter results today after the US stock markets close, the company announced yesterday afternoon.

XL executives will also make themselves available to discuss those results with analysts in a conference call starting at 6.30 p.m. (Bermuda time) this evening.

XL's share price has been battered by the company's problems related to its bond insurer affiliate Security Capital Assurance. Last Friday, XL's share price closed at $18.77, a plunge of 77 percent from its 52-week high of $82.10 in July last year.

In the fourth quarter of last year XL posted a loss of more than $1 billion, thanks predominantly to SCA-related charges.

XL has written down the value of its approximately 46-percent stake in SCA down to zero, but investors remain concerned about XL's reinsurance exposure to the troubled financial guarantor.

Bermuda-based SCA suffered losses from its exposure to the sub-prime mortgage meltdown, particularly through its insurance of bonds backed by mortgages. Devastating downgrades from credit ratings agencies followed.

The conference call can be accessed through a listen-only dial-in number or through a live webcast. To listen to the conference call, dial 1-877-422-4657 or 1-706-679-0474, conference ID# 52608266. The webcast will be available at www.xlcapital.com.