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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
XL Capital Ltd (f/k/a EXEL Limited)
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(Last) (First) (Middle)
Cumberland House, 1 Victoria Street
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(Street)
Hamilton HM11 Bermuda
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(City) (State) (Zip)
Annuity & Life Re (Holdings), Inc. (ALRE)
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2. Issuer Name and Ticker or Trading Symbol
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
March, 2000
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Shares 03/02/00 P 1,418,440 (A) $25.38 per share (1) 2,836,880 D
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5.Number of 7.Title and Amount ative Deriv- 11.Nat-
or Derivative 6. of Underlying 8. Secur- ative ure of
Exer- 4. Securities Date Securities Price ities Security: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Bene- Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- ficially (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative Owned In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- at End direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity of Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class B $15/share 03/02/00 P 100,000 (2) 04/18/08 Common 100,000 $18.50 per 200,000 D
Warrants Shares warrant(3)
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</TABLE>
Explanation of Responses:
(1) The consideration paid in the acquisition of the common shares reported
herein was in the form of common shares of Risk Capital Holdings, Inc. and cash
valued in the aggregate at $36,000,000.
(2) One-third of the warrants are exercisable as of April 18, 1999, one-third as
of April 18, 2000 and one-third as of April 18, 2001.
(3) The consideration paid in the acquisition of the warrants reported herein
was in the form of common shares of Risk Capital Holdings, Inc. and cash valued
in the aggregate at $1,850,000.
/s/ Paul Giordano 04/07/00
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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