GLOBALE Rückversicherungs Finance Alpha B.V.
Gerling Global Fin. Alpha english
Gerling Global Re concentrates on world-wide life reinsurance business
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Gerling Global Re concentrates on world-wide life reinsurance business and
ceases to write any new non-life reinsurance business
In compliance with the Rules and Regulations of the Luxembourg Bourse, Article
9, Gerling Global Finance Alpha B.V., Amsterdam, makes the following
announcement:
Gerling-Konzern Globale Rückversicherungs-AG (GGRe), the Guarantor of Euro
220,000,000 Subordinated Step-up Fixed/Floating Rate Bonds, has decided to
continue its world-wide life reinsurance business in a new company, Gerling Life
Reinsurance GmbH. In the non-life reinsurance segment existing contractual
commitments will be duly fulfilled but any new business will not be written.
Gerling Life Reinsurance GmbH, based in Cologne, will continue to operate the
profitable life reinsurance business of GGRe world-wide and expects a premium
volume of 1.4 billion euros in 2002.
GGRe’s non-life reinsurance business will generate a premium volume of approx.
4.5 billion euros in 2002.
end of announcement (c)DGAP 28.10.2002
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WKN: 701555; ISIN: XS0133491000; Index:
Listed: Börse Luxembourg
280836 Okt 02
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