NEW YORK (Reuters) - XL Capital Ltd., a reinsurer, said on Tuesday it priced an offering of 33.8 million ordinary shares at $65 a share.

XL will also sell $745 million of equity security units at $25 per unit, the company said. The units consist of forward purchase contracts and debt securities.

The Bermuda-based company said it expects total proceeds from the offerings of about $2.9 billion, to be used for general corporate purposes and to replenish its capital base following hurricane losses.

XL last week reaffirmed third-quarter loss estimates for Hurricanes Katrina and Rita at $1.47 billion. It also said net losses from Hurricane Wilma will be about $210 million and hit fourth-quarter and full-year results.

Shares of XL Capital closed down $1.37, or 2 percent, at $65.65, on the New York Stock Exchange on Tuesday.