UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
ANNUITY & LIFE RE (HOLDINGS), LTD.
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(Name of Issuer)
COMMON STOCK
(par value $1.00)
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(Title of Class of Securities)
G03910109
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(CUSIP Number)
March 4, 1998
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/X/ Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 7
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CUSIP No. G03910109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Risk Capital Reinsurance Company
06-1430254
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) / /
(b) /X/
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3. SEC Use Only
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4. Citizenship or Place of Organization
Nebraska
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5. Sole Voting Power
0
---------------------------------------------------
Number of 6. Shared Voting Power
Shares
Beneficially 1,451,773
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Owned by Each Reporting 7. Sole Dispositive Power
Person With:
0
---------------------------------------------------
8. Shared Dispositive Power
1,451,773
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,451,773
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10. Check box if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions) / /
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11. Percent of Class Represented by Amount in Row (9)
5.7%
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12. Type of Reporting Person (See Instructions)
IC
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Page 2 of 7
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CUSIP No. G03910109
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Risk Capital Holdings, Inc.
061424716
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) / /
(b) /X/
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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5. Sole Voting Power
0
---------------------------------------------------
Number of 6. Shared Voting Power
Shares
Beneficially 1,451,773
---------------------------------------------------
Owned by Each 7. Sole Dispositive Power
Reporting
Person With: 0
---------------------------------------------------
8. Shared Dispositive Power
1,451,773
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,451,773
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10. Check box if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions) / /
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11. Percent of Class Represented by Amount in Row (9)
5.7%
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12. Type of Reporting Person (See Instructions)
HC
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Page 3 of 7
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CUSIP No. G03910109
Item 1(a). Name of Issuer:
Annuity & Life Re (Holdings), Ltd.
Item 1(b). Address of Issuer's Principal Executive Offices:
Victoria Hall
Victoria Street
P.O. Box HM 1262
Hamilton HM BERMUDA
Item 2(a). Name of Person Filing:
This schedule is being filed jointly by:
(i) Risk Capital Reinsurance Company
(ii) Risk Capital Holdings, Inc.
Item 2(b). Address of Principal Business Office:
The address of principal business office for both (i) and (ii) is:
20 Horseneck Lane
Greenwich, Connecticut 06830
Item 2(c). Citizenship:
(i) Nebraska
(ii) Delaware
Item 2(d). Title of Class of Securities:
Common Stock, par value $1.00
Item 2(e). CUSIP Number:
G03910109
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person is a:
For (i):
(c) /X/ Insurance company as defined in Section 3(a)(19) of the
Act (15 U.S.C. 78c).
For (ii):
(g) /X/ A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G).
Page 4 of 7
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CUSIP No. G03910109
Item 4. Ownership:
The ownership for both (i) and (ii) is:
(a) Amount beneficially owned: 1,451,773
(b) Percent of class: 5.7%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote: 1,451,773
(iii) sole power to dispose or to direct the disposition of: 0
(iv) shared power to dispose or to direct the disposition of:
1,451,773
Risk Capital Reinsurance Company, a wholly owned subsidiary of Risk Capital
Holdings, Inc., acquired 1,418,440 shares of Common Stock and 100,000 Class
B Warrants to acquire shares of Common Stock of Annuity & Life Re
(Holdings), Ltd. pursuant to the Securities Purchase Agreement dated as of
March 4, 1998, among Annuity & Life Re (Holdings), Ltd., Risk Capital
Reinsurance Company and certain other parties. Of the 100,000 Class B
Warrants acquired, one-third will become exercisable on each of April 15,
1999, April 15, 2000 and April 15, 2001.
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following .
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
See Exhibit 1.
Item 8. Identification and Classification of Members of the Group:
Not applicable.
Item 9. Notice of Dissolution of Group:
Not applicable.
Item 10. Certification:
By signing below, I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
Page 5 of 7
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CUSIP No. G03910109
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: March 29, 1999
RISK CAPITAL REINSURANCE COMPANY
By: /s/ Peter A. Appel
-------------------------------------------
Name: Peter A. Appel
Title: Managing Director and
General Counsel
RISK CAPITAL HOLDINGS, INC.
By: /s/ Peter A. Appel
------------------------------------------
Name: Peter A. Appel
Title: Managing Director and
General Counsel
Page 6 of 7
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CUSIP No. G03910109
EXHIBIT INDEX TO SCHEDULE 13G
Exhibit 1. Identity and classification of subsidiary.
Exhibit 2. Joint Filing Agreement dated as of March 29, 1999 between
Risk Capital Reinsurance Company and Risk Capital Holdings, Inc.
Page 7 of 7
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EXHIBIT 1
IDENTITY AND CLASSIFICATION OF SUBSIDIARY
Pursuant to the instructions to Item 7 of this Schedule 13G, the identity and
the Item 3 classification of the relevant subsidiary are: Risk Capital
Reinsurance Company, 20 Horseneck Lane, Greenwich, Connecticut 06830, a wholly
owned subsidiary of Risk Capital Holdings, Inc., and an insurance company as
defined in Section 3(a)(19) of the Securities Exchange Act of 1934 (15 U.S.C.
78c).
<PAGE>
EXHIBIT 2
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree to the joint filing with each other of
the attached statement on Schedule 13G and to all amendments to such statement
and that such statement and all amendments to such statement is made on behalf
of each of them.
IN WITNESS WHEREOF, the undersigned hereby execute this agreement on March 29,
1999.
RISK CAPITAL REINSURANCE COMPANY
By: /s/ Peter A. Appel
-------------------------------------
Name: Peter A. Appel
Title: Managing Director and
General Counsel
RISK CAPITAL HOLDINGS, INC.
By: /s/ Peter A. Appel
-------------------------------------
Name: Peter A. Appel
Title: Managing Director and
General Counsel
