American Re Losses

American Reinsurance Corp. (American Re) reported a net loss of $58.9 million for the first quarter, compared with $57 million in earnings for the year-earlier quarter. The latest results reflect substantially higher losses from underwriting, natural catastrophes, and risk insurance/reinsurance contracts. If you back to archives (http://www.workcompcentral.com/?userid=&source=news2) you will note that American Re was one of the reinsurers tangled up in the fateful 'Unicover debacle' that cost the industry up to $1 billion. ...