Annuity & Life Reports 3rd Quarter Net Loss

The company’s investments are doing better, and the performance of major, money-losing contracts has stabilized, but the company, which has $2.3 billion in assets, still needs to come up with $210 million in collateral by Dec. 31 to support its operations, the company says.

“The Company will seek to meet or reduce these additional collateral requirements by negotiating the recapture, retrocession, or sale of certain of its reinsurance agreements, by accessing its collateral funding facility and/or by raising capital,” the company says in a statement about the collateral requirements.