================================================================================



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   ----------

                                    FORM 8-K

                                 Current Report

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                                February 10, 2004
                Date of Report (Date of earliest event reported)


                                 XL CAPITAL LTD
             (Exact name of registrant as specified in its charter)

         Cayman Islands                  1-10809                98-0191089
(State or other jurisdiction of  (Commission file number)    (I.R.S. Employer
 incorporation or organization)                            Identification No.)

              XL House, One Bermudiana Road, Hamilton, Bermuda HM11
                    (Address of principal executive offices)

                                 (441) 292-8515
              (Registrant's telephone number, including area code)

                                 Not Applicable
          (Former name or former address, if changed since last report)



================================================================================






Item 7. Financial Statements and Exhibits.


     (c) Exhibits. The following exhibit is furnished herewith:

         Exhibit No.     Description
         -----------     ----------------------------------------------

            99.1         Press Release ("XL Capital Ltd Reports Fourth Quarter
                         and Full Year 2003 Results") dated February 10, 2004.



Item 12. Results of Operations and Financial Condition.


     The following information is being furnished under Item 12, "Results of
Operations and Financial Condition." This information shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing.


     On February 10, 2004, XL Capital Ltd issued the press release attached as
Exhibit 99.1 and incorporated by reference announcing the results of the fourth
quarter and full year of 2003.











                                   SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:   February 10, 2004


                                      XL CAPITAL LTD


                                      By: /s/ Jerry de St. Paer
                                          ---------------------------------
                                          Name:   Jerry de St. Paer
                                          Title:   Chief Financial Officer