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Industry: Email Alert RSS FeedERC ponders strategic repositioning. (Reinsurance).(Employers Reinsurance Corp.)(Company Profile)
National Underwriter Property & Casualty-Risk & Benefits Management, December, 2002 by Howard, Lisa S.
As Employers Reinsurance Corp. contemplates its strategic repositioning, it is vitally important that the company demonstrates a turnaround in a string of quarters beginning next year, according to Ron Pressman, chairman, president and chief executive officer of ERG in Overland Park, Kan. That turnaround, of course, cannot be expected to kick off until next year, as GE recently announced that ERG is predicted to recognize a $2.5 billion pretax loss-reserve strengthening in the fourth quarter of 2002, with a net capital infusion from GE of $1.8 billion.
GE Chairman and CEO Jeff Immelt also recently reiterated during an analysts' teleconference GE'S desire to exit the property-casualty business. He further revealed for the first time a plan to sell ERG'S life...
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