Company expects an after-tax loss of $25m

Alea Group Holdings (Bermuda) has announced that it has reached agreement to fully and finally commute all exposure under an excess-of-loss reinsurance treaty.

In a statement, Alea said that it expects to record an after-tax loss, of approximately $25m in the third quarter of 2007 in connection with receiving a one-time payment of $203.6m pursuant to the agreed commutation terms.

No further payments to or from the counterparty will be made under these arrangements.