ESG Re puts legacy issues behind it

ESG Re, the Bermuda reinsurer that specialises in medical business, showed an overall loss of US$51.2mn. ESG Re attributed the underwriting loss of US$16.4mn to a deterioration in the results for the legacy underwriting years of 1997–2000. Most of the $24.0mn loss from the period is related to Norwegian personal accident business written by the former chief marketing officer of ESG Re’s now closed German operation.