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Annuity And Life Gets Delisting Notice

By Staff Writer

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NU Online News Service, April 21, 2003, 6:09 p.m. – Annuity and Life Re (Holdings) Ltd., Hamilton, Bermuda, says the New York Stock Exchange has sent it a notice suggesting that it may face delisting in six months because the average closing price of its stock has been under $1 for 30 consecutive trading days.

The reinsurer recently reported a large loss for the fourth quarter of 2002 and noted that it has had trouble raising the capital it needs to continue to operate.