Annuity & Life Re continues downsizing

By David Marchant

21 years ago

Topics

Bermuda Insurance Listed Securities

Keywords

Annuity & Life Re Bermuda Insurance Market XL Life Ltd.

Financially-troubled Annuity & Life Re continued its downsizing in August with the announcement that unnamed ceding companies had ‘recaptured’ a major contract that was draining its earnings.The recapture, which was effective June 30, 2003, involved Annuity & Life Re’s largest guaranteed minimum death benefits reinsurance contract.

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