Prospectus excerpt:  We are selling 16,000,000 of our 6.875% Series C Preferred Shares, par value $0.0125 per share (the ôSeries C Preferred Sharesö).

Upon liquidation, dissolution or winding-up, the holders of the Series C Preferred Shares will be entitled to receive from our assets legally available for distribution to shareholders a liquidation preference of $25 per share, plus declared and unpaid dividends, if any, to the date fixed for distribution. Dividends on the Series C Preferred Shares will be payable on a non-cumulative basis only when, as and if declared by our board of directors, quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing on July 15, 2012, at a rate equal to 6.875% of the liquidation preference per annum (equivalent to $1.71875 per share).

On and after April 15, 2017, we may redeem the Series C Preferred Shares, in whole or in part, at any time, at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption. At any time prior to April 15, 2017, we may redeem the Series C Preferred Shares in whole at a redemption price of $26 per Series C Preferred Share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption, only if we submit to the holders of our common shares a proposal for an amalgamation or merger or if we submit any proposal for any other matter that requires, as a result of a change in Bermuda law after the date of this prospectus supplement, for its validation or effectuation an affirmative vote of the holders of the Series C Preferred Shares at the time outstanding, whether voting as a separate series or together with any other series or class of preference shares as a single class. In addition, following the occurrence of a tax event, as described elsewhere in this prospectus supplement, we may redeem the Series C Preferred Shares, in whole or in part, at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption.