Auditor pessimistic about Annuity & Life Re

Auditor KPMG stated in an SEC filing on March 21 that there is “substantial doubt” about the ability of Annuity & Life Re to continue as a going concern.
The comment was made in a note to the financial statements dated February 11, 2003 that was part of an amended annual report for fiscal 2001 that contained restated figures. The auditor cited “significant losses from operations and experienced liquidity demands”.