- ------------
| FORM 3 |
- ------------
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
1. Name and Address of Reporting Person:
XL Capital Ltd (f/k/a EXEL Limited)
Cumberland House
One Victoria Street
Hamilton, Bermuda HM11
2. Date of Event Requiting Statement (Month/Day/Year)
03/02/00
3. IRS or Social Security Number of Reporting Person (Voluntary)
I.R.S. Identification No. 98-0058718
4. Issuer Name and Ticker or Trading Symbol
Annuity and Life Re (Holdings), Inc.
5. Relationship of Reporting Person to Issuer (Check all Applicatble)
( ) Director (X) 10% Owner
( ) Officer (give title ( ) Other (specify below)
below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
Table I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
|------------------------------------------------------------------------------|
|1.Title of Security |2.Amount of Securities |3.Ownership |4.Nature of |
| (Instr. 4) | Beneficially Owned | Form: | Indirect |
| | (Instr. 4) | Direct (D) | Beneficial |
| | | or Indirect | Ownership |
| | | (I)(Instr.5)| (Instr. 5) |
|--------------------------------------------|--------------|------------------|
| Common Shares, par | 2,836,880 | I | By wholly owned |
| value $1.00 | | | subsidiary |
|--------------------|-----------------------|--------------|------------------|
| | | | |
| | | | |
|------------------------------------------------------------------------------|
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Print or Type Responses)
Page 1 of 2
<PAGE>
- ----------------------
FORM 3 (continued)
- ----------------------
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security (Instr. 4)
Class B Warrants
2. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable:
(1)
Expiration Date:
4/18/08
3. Title and Amount of Securities Underlying Derivative Securities (Instr. 4)
Title:
Common Shares, par value $1.00 per share
Amount or Number of Shares:
200,000
4. Conversion or Exercise Price of Derivative Security
$15/share
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)
(D)
6. Nature of Indirect Beneficial Ownership
Wholly owned subsidiary
Explanation of Responses:
(1) Exercisable 1/3 on April 18, 1999, 1/3 on April 18, 2000 and 1/3 on
April 18, 2001.
/s/ Paul S. Giordano March 13, 2000
- ----------------------------------- --------------
**Paul S. Giordano, Date
Executive Vice President
and General Counsel of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 10 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.
Page 2 of 2
SEC 1473 (7-96)
