NEW YORK (AP) - XL Capital Ltd. paid its chief executive, Brian O'Hara, $7.5 million in 2007, a 24 percent raise versus 2006, to cap a year during which the insurer's stock slipped 30 percent.

The Bermuda-based insurer paid Mr. O'Hara a $1 million salary and a $1.5 million bonus, plus a $2 million incentive bonus. XL granted Mr. O'Hara $2.3 million in stock and $684,471 in "other" compensation, which included retirement plan contributions, tax reimbursements, and housing and travel allowances.

XL Capital's profit fell 79 percent last year to $360.4 million from $1.72 billion, mostly because a number of the insurer's investments went sour.

The Associated Press calculations of total pay include executives salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations do not include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.