Company Profile: Arig Re

Last year saw a major refocus for Arig Re. The company ceased underwriting operations in its UK subsidiary, Arig Insurance after a string of unprofitable results. The subsidiary, which ceased underwriting in December, contributed a net loss of US$64mn in 1999 compared with a $16mn loss in 1998. Arig UK's 1999 result included an abnormal charge of $24mn associated with the decision to place the company in run-off.