compare over 300 life insurance policies
 

Annuity & Life and Transamerica Resolve Dispute

Annuity and Life Re (Holdings), Ltd. (NYSE: ANR) today reported that the Company and Transamerica have agreed to settle all disputes relating to the current arbitration proceedings between the two parties.  Pursuant to the terms of the settlement agreement, Transamerica and the Company will calculate monthly settlements under their reinsurance treaty in a manner the Company believes is consistent with the original terms of the treaty.  Transamerica also agreed to the Company's $5.0 million offset of amounts owing to Transamerica at October 31, 2003.  The Company will pay Transamerica approximately $8.7 million, representing amounts currently due under the reinsurance treaty as of April 30, 2004.  The Company does not expect an adverse impact on its financial results as a result of the settlement.
Jay Burke, Chief Executive Officer of the Company, commented,
"We are very pleased that Transamerica and the Company were able to amicably resolve their differences.  The Company's future is heavily dependent upon the performance of this contract, and we are hopeful that with this dispute out of the way we can have a more constructive dialogue with Transamerica."
Annuity and Life Re (Holdings), Ltd. provides annuity and life reinsurance to insurers through its wholly owned subsidiaries, Annuity and Life Reassurance, Ltd. and Annuity and Life Reassurance America, Inc.
The Private Securities Litigation Reform Act of 1995 provides a safe harbour for forward-looking statements made by the Company or on its behalf. All statements that address operating performance, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements.  These statements are made on the basis of management's views and assumptions; as a result, there can be no assurance that management's expectations will necessarily come to pass.  The Company cautions that actual results could differ materially from those expressed or implied in forward-looking statements.   Important factors that could materially and adversely affect the Company's operations and financial condition and/or cause the Company's actual results of operations or financial condition to differ from those expressed or implied in the Company's forward- looking statements include, but are not necessarily limited to, the Company's ability to meet the obligations associated with its current business and to fund its continuing operations; the Company's ability to reduce or otherwise satisfy its collateral obligations; the outcome of pending legal proceedings involving the Company; the Company's ability to obtain adequate financial ratings; the ability of the Company's cedents to manage successfully assets they hold on its behalf; the Company's success in managing its investments; the Company's ability to maintain the listing of its common shares on the New York Stock Exchange; changes in mortality, morbidity and claims experience; the Company's ability to make accurate estimates and assumptions regarding future mortality, persistency, lapses, expenses and investment performance based upon historical results and information provided to it by its cedents; the Company's ability to underwrite business; unanticipated withdrawal or surrender activity; changes in market conditions, including changes in interest rate levels; the competitive environment; the impact of recent and possible future terrorist attacks and the U.S. government's response thereto; the Company's ability to attract and retain clients; the loss of a key executive; regulatory changes (such as changes in U.S. tax law and insurance regulation that directly affect the competitive environment for the Company's products); and a prolonged economic downturn.  Investors are also directed to consider the risks and uncertainties discussed in documents the Company has filed with the Securities and Exchange Commission, and in particular, the Company's Annual Report on Form 10-K for the year ended December 31, 2003, as amended.  The Company does not undertake to update any forward-looking statement that may be made from time to time by or on its behalf.


Annuity & Life and Transamerica Resolve Dispute
Annuity and Life Re (Holdings), Ltd. (NYSE: ANR) today reported that the Company and Transamerica have agreed to settle all disputes relating to the current arbitration proceedings between the two parties.  Pursuant to the terms of the settlement agreement, Transamerica and the Company will calculate monthly settlements under their reinsurance treaty in a manner the Company believes is consistent with the original terms of the treaty.  Transamerica also agreed to the Company's $5.0 million offset of amounts owing to Transamerica at October 31, 2003.  The Company will pay Transamerica approximately $8.7 million, representing amounts currently due under the reinsurance treaty as of April 30, 2004.  The Company does not expect an adverse impact on its financial results as a result of the settlement.
Jay Burke, Chief Executive Officer of the Company, commented,
"We are very pleased that Transamerica and the Company were able to amicably resolve their differences.  The Company's future is heavily dependent upon the performance of this contract, and we are hopeful that with this dispute out of the way we can have a more constructive dialogue with Transamerica."
Annuity and Life Re (Holdings), Ltd. provides annuity and life reinsurance to insurers through its wholly owned subsidiaries, Annuity and Life Reassurance, Ltd. and Annuity and Life Reassurance America, Inc.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. All statements that address operating performance, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements.  These statements are made on the basis of management's views and assumptions; as a result, there can be no assurance that management's expectations will necessarily come to pass.  The Company cautions that actual results could differ materially from those expressed or implied in forward-looking statements.   Important factors that could materially and adversely affect the Company's operations and financial condition and/or cause the Company's actual results of operations or financial condition to differ from those expressed or implied in the Company's forward- looking statements include, but are not necessarily limited to, the Company's ability to meet the obligations associated with its current business and to fund its continuing operations; the Company's ability to reduce or otherwise satisfy its collateral obligations; the outcome of pending legal proceedings involving the Company; the Company's ability to obtain adequate financial ratings; the ability of the Company's cedents to manage successfully assets they hold on its behalf; the Company's success in managing its investments; the Company's ability to maintain the listing of its common shares on the New York Stock Exchange; changes in mortality, morbidity and claims experience; the Company's ability to make accurate estimates and assumptions regarding future mortality, persistency, lapses, expenses and investment performance based upon historical results and information provided to it by its cedents; the Company's ability to underwrite business; unanticipated withdrawal or surrender activity; changes in market conditions, including changes in interest rate levels; the competitive environment; the impact of recent and possible future terrorist attacks and the U.S. government's response thereto; the Company's ability to attract and retain clients; the loss of a key executive; regulatory changes (such as changes in U.S. tax law and insurance regulation that directly affect the competitive environment for the Company's products); and a prolonged economic downturn.  Investors are also directed to consider the risks and uncertainties discussed in documents the Company has filed with the Securities and Exchange Commission, and in particular, the Company's Annual Report on Form 10-K for the year ended December 31, 2003, as amended.  The Company does not undertake to update any forward-looking statement that may be made from time to time by or on its behalf.


Annuity & Life and Transamerica Resolve Dispute
Annuity and Life Re (Holdings), Ltd. (NYSE: ANR) today reported that the Company and Transamerica have agreed to settle all disputes relating to the current arbitration proceedings between the two parties.  Pursuant to the terms of the settlement agreement, Transamerica and the Company will calculate monthly settlements under their reinsurance treaty in a manner the Company believes is consistent with the original terms of the treaty.  Transamerica also agreed to the Company's $5.0 million offset of amounts owing to Transamerica at October 31, 2003.  The Company will pay Transamerica approximately $8.7 million, representing amounts currently due under the reinsurance treaty as of April 30, 2004.  The Company does not expect an adverse impact on its financial results as a result of the settlement.
Jay Burke, Chief Executive Officer of the Company, commented,
"We are very pleased that Transamerica and the Company were able to amicably resolve their differences.  The Company's future is heavily dependent upon the performance of this contract, and we are hopeful that with this dispute out of the way we can have a more constructive dialogue with Transamerica."
Annuity and Life Re (Holdings), Ltd. provides annuity and life reinsurance to insurers through its wholly owned subsidiaries, Annuity and Life Reassurance, Ltd. and Annuity and Life Reassurance America, Inc.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. All statements that address operating performance, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements.  These statements are made on the basis of management's views and assumptions; as a result, there can be no assurance that management's expectations will necessarily come to pass.  The Company cautions that actual results could differ materially from those expressed or implied in forward-looking statements.   Important factors that could materially and adversely affect the Company's operations and financial condition and/or cause the Company's actual results of operations or financial condition to differ from those expressed or implied in the Company's forward- looking statements include, but are not necessarily limited to, the Company's ability to meet the obligations associated with its current business and to fund its continuing operations; the Company's ability to reduce or otherwise satisfy its collateral obligations; the outcome of pending legal proceedings involving the Company; the Company's ability to obtain adequate financial ratings; the ability of the Company's cedents to manage successfully assets they hold on its behalf; the Company's success in managing its investments; the Company's ability to maintain the listing of its common shares on the New York Stock Exchange; changes in mortality, morbidity and claims experience; the Company's ability to make accurate estimates and assumptions regarding future mortality, persistency, lapses, expenses and investment performance based upon historical results and information provided to it by its cedents; the Company's ability to underwrite business; unanticipated withdrawal or surrender activity; changes in market conditions, including changes in interest rate levels; the competitive environment; the impact of recent and possible future terrorist attacks and the U.S. government's response thereto; the Company's ability to attract and retain clients; the loss of a key executive; regulatory changes (such as changes in U.S. tax law and insurance regulation that directly affect the competitive environment for the Company's products); and a prolonged economic downturn.  Investors are also directed to consider the risks and uncertainties discussed in documents the Company has filed with the Securities and Exchange Commission, and in particular, the Company's Annual Report on Form 10-K for the year ended December 31, 2003, as amended.  The Company does not undertake to update any forward-looking statement that may be made from time to time by or on its behalf.


Click here to return to the main articles menu.


RhinoLifeInsurance Friends Directory

Suggested Web Sites provided by the Editors of RhinoLifeInsurance.com

Scrouge Online give you acces to great deals on life insurance all online | Visit the RhinoLifeInsurance Life Insurance Home Page | Good insurance provides you access to Mortgage Insurance, Mortgage Protection and lets you request online quotes | If you need to get Life Insurance Quotes Quote life insurance is an absolute must ! Insurance | Life insurance from life insurance advisers | Mortgages from the mortgage prospector | Life Insurance Quotes from the life insurance professor | Life Insurance from Brokers Online | Life Insurance from Express Life Insurance |

These extra resources are brought to you Via topic related websearches on Msn and Yahoo. If you have any suggestions for other sites that should be included please email simon@andromedawebs.co.uk. All sites go through a vigorous review before they are added.