Annuity and Life Re finds error in Q3 2003 results
While announcing its 2003 results Annuity and Life Re has had to restate its Q3 announcement. In the third quarter the company incorrectly released approximately $3.8 million of liabilities associated with its Transamerica annuity reinsurance contract. The company says it plans to file an amended Form 10-Q later this week.
The amended filing will reflect an increase in previously reported liabilities and will reduce previously reported net income of $33,392 to a loss of $(3,786,905), or a $3,820,297 reduction. BecauseOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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