NU Online News Service, Aug. 15, 7:30 p.m. – Annuity & Life (Re) Holdings Ltd., Hamilton, Bermuda, is reporting a $20 million net loss for the second quarter on $120 million in revenue, compared with $15 million in net income on $88 million in revenue for the second quarter of 2001.
Annuity & Life Re sells reinsurance for life insurance policies and annuity contracts.
The life reinsurance operation generated $7.1 million in income on $95 million in revenue.