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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


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                                 SCHEDULE 13G/A
                                 (RULE 13d-102)

        INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
      13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2

                      (Amendment No. _________4________)(1)


                                 XL CAPITAL LTD
             -------------------------------------------------------
                                (Name of Issuer)


                             CLASS A ORDINARY SHARES
             -------------------------------------------------------
                         (Title of Class of Securities)


                                    983940909
             -------------------------------------------------------
                                 (CUSIP Number)


                                AUGUST 08, 2001
             -------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

                Check the appropriate box to designate the rule
                   pursuant to which this Schedule is filed:

                             [ ]  Rule 13d-1 (b)

                             [X]  Rule 13d-1 (c)

                             [ ]  Rule 13d-1 (d)


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(1)      The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover shall not be deemed to
be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934
or otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).

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Schedule 13G                           Forms
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CUSIP NO. 983940909                     13G                    PAGE 2 OF 9 PAGES
-------------------                                            -----------------

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1.       NAME OF REPORTING PERSONS
         I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
         GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD
         (NONE)

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2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a) [ ]
                                                                        (b) [X]
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3.       SEC USE ONLY

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4.       CITIZENSHIP OR PLACE OF ORGANIZATION
         SINGAPORE

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NUMBER OF          5.   SOLE VOTING POWER                     0
SHARES             -------------------------------------------------------------
BENEFICIALLY       6.   SHARED VOTING POWER           6,261,922
OWNED BY EACH      -------------------------------------------------------------
REPORTING          7.   SOLE DISPOSITIVE POWER                0
PERSON WITH        -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER      6,261,922
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9.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           6,261,922

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10.        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
           SHARES*                                                      [ ]

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11.        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
           5.00%

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12.        TYPE OF REPORTING PERSON*
           OO

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                      *SEE INSTRUCTIONS BEFORE FILING OUT!
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Schedule 13G                           Forms
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CUSIP NO. 983940909                     13G                    PAGE 3 OF 9 PAGES
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1.       NAME OF REPORTING PERSONS
         I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
         MINISTER FOR FINANCE, SINGAPORE
         (NONE)

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2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a) [ ]
                                                                        (b) [X]
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3.       SEC USE ONLY

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4.       CITIZENSHIP OR PLACE OF ORGANIZATION
         SINGAPORE

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NUMBER OF          5.   SOLE VOTING POWER                     0
SHARES             -------------------------------------------------------------
BENEFICIALLY       6.   SHARED VOTING POWER           4,323,522
OWNED BY EACH      -------------------------------------------------------------
REPORTING          7.   SOLE DISPOSITIVE POWER                0
PERSON WITH        -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER      4,323,522
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9.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           4,323,522

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10.        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
           SHARES*                                                      [ ]

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11.        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
           3.45%

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12.        TYPE OF REPORTING PERSON*
           OO

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                      *SEE INSTRUCTIONS BEFORE FILING OUT!
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Schedule 13G                           Forms
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CUSIP NO. 983940909                     13G                    PAGE 4 OF 9 PAGES
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1.       NAME OF REPORTING PERSONS
         I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
         MONETARY AUTHORITY OF SINGAPORE
         (NONE)

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2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a) [ ]
                                                                        (b) [X]
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3.       SEC USE ONLY

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4.       CITIZENSHIP OR PLACE OF ORGANIZATION
         SINGAPORE

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NUMBER OF          5.   SOLE VOTING POWER                     0
SHARES             -------------------------------------------------------------
BENEFICIALLY       6.   SHARED VOTING POWER           1,649,000
OWNED BY EACH      -------------------------------------------------------------
REPORTING          7.   SOLE DISPOSITIVE POWER                0
PERSON WITH        -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER      1,649,000
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9.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           1,649,000

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10.        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
           SHARES*                                                      [ ]

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11.        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
           1.32%

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12.        TYPE OF REPORTING PERSON*
           OO

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                      *SEE INSTRUCTIONS BEFORE FILING OUT!
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Schedule 13G                           Forms
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CUSIP NO. 983940909                     13G                    PAGE 5 OF 9 PAGES
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         NAME OF REPORTING PERSONS
1.       I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
         BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE
         (NONE)

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2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*              (a) [ ]
                                                                        (b) [X]
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3.       SEC USE ONLY

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4.       CITIZENSHIP OR PLACE OF ORGANIZATION
         SINGAPORE

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NUMBER OF          5.   SOLE VOTING POWER                     0
SHARES             -------------------------------------------------------------
BENEFICIALLY       6.   SHARED VOTING POWER             289,400
OWNED BY EACH      -------------------------------------------------------------
REPORTING          7.   SOLE DISPOSITIVE POWER                0
PERSON WITH        -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER        289,400
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9.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           289,400

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10.        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
           SHARES*                                                      [ ]

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11.        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
           0.23%

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12.        TYPE OF REPORTING PERSON*
           OO

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                      *SEE INSTRUCTIONS BEFORE FILING OUT!
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                                                                     PAGE 6 OF 9


ITEM 1(A).  NAME OF ISSUER

                XL Capital Ltd


ITEM 1(B).  ADDRESS OF ISSUERS' PRINCIPAL EXECUTIVE OFFICES

                Cumberland House
                1 Victoria Street
                Hamilton, HM 11
                Bermuda


ITEM 2(B).  NAME OF PERSON FILING

            I   Government of Singapore Investment Corporation Pte Ltd
            II  Minister for Finance, Singapore
            III Monetary Authority of Singapore
            IV  Board of Commissioners of Currency, Singapore


ITEM 2(B).  ADDRESS OF PRINCIPAL BUSINESS OFFICE

            I                       168 Robinson Road
                                    #37-01 Capital Tower
                                    Singapore 068912

            II, III & IV   c/o      Government of Singapore Investment
                                    Corporation Pte Ltd
                                    168 Robinson Road
                                    #37-01 Capital Tower
                                    Singapore 068912


ITEM 2(C).  CITIZENSHIP

            I, II, III & IV         Singapore


ITEM 2(D).  TITLE OF CLASS OF SECURITIES

                Class A Ordinary Shares


ITEM 2(E).  CUSIP NUMBER

                983940909


ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-I (b) OR 13d-2(b) OR
(c), CHECK WHETHER THE PERSON FILING IS A

                N.A.


IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c), CHECK THIS BOX.      [ x ]
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                                                                     PAGE 7 OF 9


ITEM 4. OWNERSHIP

     The aggregate number of securities and percentage of the class of
securities of the Issuer beneficially owned by each Reporting Person named in
Item 2(a), as well as the number of securities as to which such person is deemed
to have sole power to vote or to direct the vote, shared power to vote or to
direct the vote, sole power to dispose or to direct the disposition, shared
power to dispose or direct the disposition, is set forth in the following table:



                                                                       Power to Vote                Power to Dispose
                                                                       -------------                ----------------
                                            No of Securities
             Person                        Beneficially Owned      Sole(1)       Shared(1)       Sole(1)       Shared(1)
             ------                        ------------------      -------       ---------       -------       ---------
                                                                                                
Government of Singapore Investment
Corporation Pte Ltd                            6,261,922              0          6,261,922          0          6,261,922

Minister for Finance, Singapore                4,323,522              0          4,323,522          0          4,323,522

Monetary Authority of Singapore                1,649,000              0          1,649,000          0          1,649,000

Board of Commissioners of
Currency, Singapore                              289,400              0            289,400          0            289,400

Total(2) (all Reporting Persons)               6,261,922              0          6,261,922          0          6,261,922


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(1)  The Government of Singapore Investment Corporation Pte Ltd shares power
to vote and power to dispose of the 4,323,522 securities beneficially owned by
it with the Minister for Finance, Singapore, shares power to vote and dispose of
the 1,649,000 securities beneficially owned by it with the Monetary Authority of
Singapore, and shares power to vote and dispose of the 289,400 securities owned
by it with the Board of Commissioners of Currency, Singapore.

(2)  The reporting persons disclaim membership in a group.


ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

            N.A.


ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

            N.A.


ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

            N.A.


ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

            N.A.
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                                                                     PAGE 8 OF 9


ITEM 9. NOTICE OF DISSOLUTION OF GROUP

            N.A.


ITEM 10. CERTIFICATION

     By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


MATERIAL TO BE FILED AS EXHIBITS

1.   Power of Attorney by Minister for Finance, Singapore dated 5 March 1998

2.   Power of Attorney by Monetary Authority of Singapore dated 6 March 1998

3.   Power of Attorney by Board of Commissioners of Currency, Singapore dated
     5 March 1998

(incorporated by reference to Exhibit No. 1, 2 and 3 to Schedule 13G, dated
March 23, 1998 regarding SPDR Trust Series 1).
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                                                                     PAGE 9 OF 9


                                    SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.




   August 16, 2001               Government of Singapore Investment
--------------------             Corporation Pte Ltd
         Date



                                 By   /s/ Ho Yuit Mun
                                    --------------------
                                      Ho Yuit Mun
                                      Assistant Director



                                 Minister for Finance, Singapore
                                 by Government of Singapore Investment
                                 Corporation Pte Ltd, its attorney-in-fact



                                 by   /s/ Ho Yuit Mun
                                    --------------------
                                      Ho Yuit Mun
                                      Assistant Director



                                 Monetary Authority of Singapore
                                 by Government of Singapore Investment
                                 Corporation Pte Ltd, its attorney-in-fact



                                 by   /s/ Ho Yuit Mun
                                    --------------------
                                      Ho Yuit Mun
                                      Assistant Director



                                 Board of Commissioners of Currency, Singapore
                                 by Government of Singapore Investment
                                 Corporation Pte Ltd, its attorney-in-fact



                                 by   /s/ Ho Yuit Mun
                                    --------------------
                                      Ho Yuit Mun
                                      Assistant Director