Reliance Comp Reinsurance Settlement

IMMS 1/10/00Reliance Group Holdings, Inc. (Reliance) has reached settlement agreements with a group of insurers and reinsurers involving Workers Compensation insurance program created and managed by Unicover Managers, Inc. As a result, Reliance expects to take an after-tax charge of approximately $100 million in the fourth quarter of 1999.  The agreements involved the company's retrocessional reinsurers, Sun Life Assurance Co. of Canada, Phoenix Home Life Mutual Insurance Co., American Phoeni...