Item 8.01. Other Events.

XL Insurance (Bermuda) Ltd (“XLI”), a subsidiary of XL Group plc and XL Group Ltd. (formerly known as XL Capital Ltd), has closed on a commutation, termination and release agreement (the “Termination Agreement”) with European Investment Bank (“EIB”), dated June 28, 2010, which fully extinguishes and terminates all of the guarantees issued to EIB by XLI in connection with financial guaranty policies between certain subsidiaries of Syncora Holdings Ltd. (formerly Security Capital Assurance Ltd, “Syncora Holdings”) and EIB. Under the Termination Agreement, XLI paid $38 million to EIB, and all of XLI’s exposures under the EIB guarantees, with aggregate par outstanding of approximately $900 million, were eliminated. Pursuant to the obligations of Syncora Holdings and its affiliates (collectively “Syncora”) under the Master Commutation, Release and Restructuring Agreement (the “Master Agreement”), dated as of July 28, 2008, as amended, among XLI and affiliates, Syncora, and certain of Syncora's credit default swap counterparties, Syncora has agreed to pay XLI $15 million (of the total $38 million payment). For historical information regarding the above-mentioned EIB guarantees and the Master Agreement, refer to Note 4 to the Consolidated Financial Statements of XL Capital Ltd, included in XL Capital Ltd’s 2009 Annual Report on Form 10-K filed on March 1, 2010.