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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 10-Q

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           [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 2003
                               ------------------

                                       OR

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

              For the transition period from _________ to _________

                        ---------------------------------

                         Commission file number 0-27394
                        ---------------------------------

                     GE Global Insurance Holding Corporation
             (Exact name of registrant as specified in its charter)

             Delaware                                    95-3435367
  (State or other jurisdiction of                     (I.R.S. Employer
   incorporation or organization)                    Identification No.)

5200 Metcalf, Overland Park, Kansas                         66202
(Address of principal executive offices)                  (Zip Code)

                                 (913) 676-5200
              (Registrant's telephone number, including area code)
                        ---------------------------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No[ ]

At October 31, 2003, 1,600 shares of common stock with a par value of $5,000 per
share were outstanding.

REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b)
OF FORM 10-Q AND IS THEREFORE FILING THIS FORM 10-Q WITH THE REDUCED  DISCLOSURE
FORMAT.

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<PAGE>
<TABLE>
<CAPTION>




                                TABLE OF CONTENTS

                                                                                                 Page
<S>                                                                                              <C>

    PART I - FINANCIAL INFORMATION

    Item 1.        Financial Statements.....................................................        1

    Item 2.        Management's Discussion and Analysis of Results of Operations............        7

    Item 4.        Controls and Procedures..................................................       12


    PART II - OTHER INFORMATION

    Item 6.        Exhibits and Reports on Form 8-K.........................................       13

    Signatures.    .........................................................................       14




    INDEX TO EXHIBITS

    Exhibit 12.     Computation of Ratio of Earnings to Fixed Charges........................       15

    Exhibit 31.     Certifications Pursuant to Section 302 of the Sarbanes-Oxley
                    Act of 2002..............................................................       16

    Exhibit 32.     Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
                    Section 906 of the Sarbanes-Oxley Act of 2002............................       18
</TABLE>





<PAGE>



                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.
<TABLE>
<CAPTION>

                     GE GLOBAL INSURANCE HOLDING CORPORATION
                          AND CONSOLIDATED SUBSIDIARIES

       Condensed, Consolidated Statement of Current and Retained Earnings

                                    Unaudited

                                                         Third Quarter Ended                 Nine Months Ended
(Dollars in millions)                                        September 30                       September 30
                                                   ----------------------------------   --------------------------------
                                                          2003              2002             2003              2002
                                                   ----------------   ---------------   ---------------  ---------------
<S>                                                     <C>               <C>              <C>               <C>
Revenues
Net premiums written                                    $ 2,507           $ 2,273          $ 7,349           $ 6,012
                                                   ================   ================  ==============   ===============

Net premiums earned                                     $ 2,477           $ 2,116          $ 7,487           $ 5,826
Net investment income                                       311               272              894               815
Net realized gains on investments                            60               150              143               208
Other revenues                                               50                30              136               106
                                                   ----------------   -----------------  -------------   ---------------

Total revenues                                            2,898             2,568            8,660             6,955
                                                   ----------------   -----------------  -------------   ---------------

Costs and Expenses
Claims, claim expenses and policy benefits                1,922             2,125            5,851             5,432
Insurance acquisition costs                                 534               453            1,536             1,352
Other operating costs and expenses                          216               181              640               544
Minority interest in net earnings of consolidated
   subsidiaries                                              22                22               67                66
                                                   ----------------   -----------------   ------------   ---------------

Total costs and expenses                                  2,694             2,781            8,094             7,394
                                                   ----------------   -----------------   ------------   ---------------

Earnings (loss)
Earnings (loss) before income taxes                         204              (213)             566              (439)
Income tax (expense) benefit                                (54)               90             (159)              184
                                                   ----------------    ----------------   ------------   ---------------

Net earnings (loss)                                         150              (123)             407              (255)
Dividends on preferred stock                                 (2)               (2)              (6)               (6)
Retained earnings at beginning of period                  3,515             4,866            3,262             5,002
                                                   ----------------    ----------------   ------------   ---------------
Retained earnings at end of period                      $ 3,663           $ 4,741          $ 3,663           $ 4,741
                                                   ================    ================   ============   ===============
</TABLE>



See Notes to Condensed, Consolidated Financial Statements.
                                       1
<PAGE>


Item 1.  Financial Statements (Continued).
<TABLE>
<CAPTION>

                     GE GLOBAL INSURANCE HOLDING CORPORATION
                          AND CONSOLIDATED SUBSIDIARIES

             Condensed, Consolidated Statement of Financial Position

                                                              September 30,     December 31,
(Dollars in millions)                                             2003              2002
                                                            ----------------   ---------------
                                                               (Unaudited)
<S>                                                            <C>               <C>
Assets
Investments:
   Fixed maturity securities, at fair value                    $ 26,245          $ 22,200
   Equity securities, at fair value                                 509               627
   Other invested assets                                            409             3,995
                                                            ----------------   ---------------
     Total investments                                           27,163            26,822

Cash                                                              2,073               911
Premiums receivable                                               4,428             4,447
Other receivables                                                 1,594             1,984
Reinsurance recoverables                                         10,184            10,901
Deferred insurance acquisition costs                              1,865             1,882
Other assets                                                      4,662             4,839
                                                            ----------------   ---------------

Total assets                                                   $ 51,969          $ 51,786
                                                            ================   ===============

Liabilities and equity
Claims and claim expenses                                      $ 24,778          $ 25,157
Accumulated contract values                                       2,682             2,826
Future policy benefits for life and health contracts              4,204             3,852
Unearned premiums                                                 3,230             3,231
Other reinsurance balances                                        4,356             4,325
Other liabilities                                                 2,594             2,839
Long-term borrowings                                              1,656             1,656
                                                             ---------------   ---------------
   Total liabilities                                             43,500            43,886
                                                             ---------------   ---------------

Minority interest in equity of consolidated subsidiaries          1,226             1,236
                                                             ---------------   ---------------

Accumulated non-owner changes in equity:
   Accumulated unrealized gains on investments securities-net       288               149
   Accumulated foreign currency translation adjustments             (89)             (138)
   Derivatives qualifying as hedges                                   1                11
                                                             ---------------   ---------------
     Total accumulated non-owner changes in equity                  200                22

Preferred stock                                                     150               150
Common stock                                                          8                 8
Paid-in capital                                                   3,222             3,222
Retained earnings                                                 3,663             3,262
                                                             ----------------  ---------------
   Total stockholder's equity                                     7,243             6,664
                                                             ----------------  ---------------

Total liabilities and equity                                   $ 51,969          $ 51,786
                                                             ================  ===============
</TABLE>
See Notes to Condensed, Consolidated Financial Statements.

                                       2
<PAGE>


Item 1.  Financial Statements (Continued).
<TABLE>
<CAPTION>

                     GE GLOBAL INSURANCE HOLDING CORPORATION
                          AND CONSOLIDATED SUBSIDIARIES

                 Condensed, Consolidated Statement of Cash Flows

                                    Unaudited
(Dollars in millions)                                               Nine Months Ended
                                                                       September 30
                                                            ----------------------------------
                                                                  2003               2002
                                                            -----------------  ---------------
<S>                                                           <C>                <C>
Cash flows from operating activities
Net earnings (loss)                                           $     407          $   (255)
Adjustments to reconcile net earnings (loss) to cash
   from operating activities:
    Claims and claim expenses                                      (379)              780
    Reinsurance recoverables                                        717               597
    Other operating activities                                      194              (313)
                                                             ----------------  ----------------
      Cash from operating activities                                939               809
                                                             ----------------  ----------------

Cash flows from investing activities
Fixed maturity securities available-for-sale:
   Purchases                                                    (16,207)           (10,408)
   Sales                                                         10,092             10,256
   Maturities                                                     2,760              1,943
Equity securities:
   Purchases                                                       (405)              (459)
   Sales                                                            538                442
Net sales (purchases) of short-term investments                   3,539             (2,056)
Net cash paid for acquisitions and in-force reinsurance
   transactions                                                       -                (25)
Other investing activities                                         (415)               402
                                                             ----------------  ---------------
   Cash from (used for) investing activities                        (98)                95
                                                             ----------------  ---------------

Cash flows from financing activities
Change in contract deposits                                         (51)               (20)
Net contract accumulation payments                                 (144)              (135)
Net procedes under related party credit facility                    642                259
Principal payments on short-term borrowings                         (80)              (156)
Proceeds from issuance of subsidiary preferred stock                  -                 70
Dividends paid                                                       (6)                (6)
                                                             ----------------  ---------------
   Cash from financing activities                                   361                 12
                                                             ----------------  ---------------

Effect of currency exchange rate changes on cash                    (40)              (160)
                                                             ----------------  ---------------

Increase in cash                                                  1,162                756
Cash at beginning of period                                         911                470
                                                             ----------------  ---------------
Cash at end of period                                         $   2,073          $   1,226
                                                             ================  ===============
</TABLE>


See Notes to Condensed, Consolidated Financial Statements.
                                       3
<PAGE>


Item 1.  Financial Statements (Continued).


                     GE GLOBAL INSURANCE HOLDING CORPORATION
                          AND CONSOLIDATED SUBSIDIARIES

              Notes to Condensed, Consolidated Financial Statements

                                   (Unaudited)

1.   Principles of  Consolidation  - The  accompanying  condensed,  consolidated
     quarterly  financial  statements of GE Global Insurance Holding Corporation
     ("GE  Global  Insurance")  include  the  accounts  and  operations,   after
     intercompany  eliminations,  of GE Global Insurance,  Employers Reinsurance
     Corporation, GE Reinsurance Corporation, Medical Protective Corporation and
     CORE Insurance  Holdings.  These statements have been prepared on the basis
     of accounting principles generally accepted in the United States of America
     ("GAAP").  GE Global Insurance is collectively referred to as "we", "us" or
     "our" in this document unless the context otherwise requires.

2.   Interim Reporting  Considerations - The condensed,  consolidated  quarterly
     financial   statements  are  unaudited.   These   statements   include  all
     adjustments  (consisting of normal  recurring  accruals) that we considered
     necessary  to  present  a fair  statement  of the  results  of  operations,
     financial position and cash flows. We label our quarterly information using
     a calendar  convention,  that is, first quarter is consistently  labeled as
     ending on March 31, second  quarter as ending on June 30, and third quarter
     as ending on  September  30. It is our  longstanding  practice to establish
     actual interim closing dates using a "fiscal" calendar,  which requires our
     businesses  to close their books on a Saturday  in order to  normalize  the
     potentially disruptive effects of quarterly closings on business processes.
     The effects of this  practice  are modest and only exist within a reporting
     year.  The results  reported  in these  condensed,  consolidated  quarterly
     financial  statements  should not be regarded as necessarily  indicative of
     results that may be expected for the entire year.

3.   Accounting Changes - We adopted Financial Accounting Standards Board (FASB)
     Interpretation No. (FIN) 46,  "Consolidation of Variable Interest Entities"
     on July 1, 2003. While FIN 46 represents a significant change in accounting
     principles  governing  consolidation,  it does not change the  economic  or
     legal characteristics of asset sales. The adoption of FIN 46 did not have a
     material effect on our financial position, operating results or cash flows.

     In April 2003, the FASB finalized  SFAS 133  Implementation  Issue No. B36,
     Modified  Coinsurance  Arrangements  and Debt  Instruments that Incorporate
     Credit Risk Exposures  that Are Unrelated or Only Partially  Related to the
     Creditworthiness  of the Obligor under those Instruments.  In summary,  the
     FASB determined  that modified  coinsurance  arrangements  where the ceding
     insurer  withholds  funds may include an embedded  derivative  that must be
     bifurcated  from the  host  instrument  if it is not  clearly  and  closely
     related to such host  instrument.  This  situation  often  arises  when the
     interest rate on the funds held balance is linked to the actual performance
     of a specified pool of assets.  This guidance is effective on the first day
     of the first fiscal quarter beginning after September 15, 2003. We continue
     to  evaluate  the  effect  that  this  guidance  may have on our  financial
     statements;  however,  based on preliminary  analysis performed,  we do not
     believe  it  will  materially  impact  our  financial  position  or  future
     operating results.

                                       4

<PAGE>


4.   Comprehensive  Income - Changes in stockholder's equity that did not result
     directly from transactions with the share owner were as follows:
<TABLE>
<CAPTION>

                                                                       Third Quarter Ended
     (Dollars in millions)                                                 September 30
                                                                -----------------------------------
                                                                       2003              2002
                                                                ----------------- -----------------
<S>                                                                 <C>                <C>

     Net earnings (loss)                                            $   150            $ (123)
     Net unrealized gains (losses) on investment securities            (353)              225
     Foreign currency translation adjustments                          (106)              (59)
     Derivatives qualifying as hedges                                    55                 7
                                                                ----------------- -----------------
        Total                                                       $  (254)          $    50
                                                                ================= =================
</TABLE>

<TABLE>
<CAPTION>
                                                                         Nine Months Ended
     (Dollars in millions)                                                  September 30
                                                                -----------------------------------
                                                                       2003              2002
                                                                ----------------- -----------------
<S>                                                                   <C>              <C>

     Net earnings (loss)                                              $ 407            $ (255)
     Net unrealized gains on investment securities                      139               302
     Foreign currency translation adjustments                            49                66
     Derivatives qualifying as hedges                                   (10)               20
                                                                ----------------- -----------------
        Total                                                         $ 585            $  133
                                                                ================= =================
</TABLE>

5.   Operating  Segments - Our  operating  segment  activity  is  summarized  as
     follows:
<TABLE>
<CAPTION>
                                                                        Third Quarter Ended
     (Dollars in millions)                                                  September 30
                                                                -----------------------------------
                                                                       2003              2002

                                                                ----------------- -----------------
<S>                                                                   <C>               <C>
     Revenues
     Property and Casualty                                            $ 2,010           $ 1,774
     Life                                                                 888               794
                                                                ----------------- -----------------
        Total revenues                                                $ 2,898           $ 2,568
                                                                ================= =================

     Earnings (loss) before income taxes
     Property and Casualty                                              $ 183            $ (237)
     Life                                                                  21                24
                                                                ----------------- -----------------
        Total earnings (loss) before income taxes                       $ 204            $ (213)
                                                                ================= =================
</TABLE>

<TABLE>
<CAPTION>

                                                                          Nine Months Ended
     (Dollars in millions)                                                   September 30
                                                                -----------------------------------
                                                                       2003              2002
                                                                ----------------- -----------------
<S>                                                                   <C>               <C>
     Revenues
     Property and Casualty                                            $ 6,061           $ 4,917
     Life                                                               2,599             2,038
                                                                ----------------- -----------------
        Total revenues                                                $ 8,660           $ 6,955
                                                                ================= =================

     Earnings (loss) before income taxes
     Property and Casualty                                              $ 476            $ (520)
     Life                                                                  90                81
                                                                ----------------- -----------------
        Total earnings (loss) before income taxes                       $ 566            $ (439)
                                                                ================= =================
</TABLE>
                                       5
<PAGE>


6.   Liability for Unpaid Claims and Claim  Expenses - There is a high degree of
     uncertainty  inherent in the estimates of ultimate  losses  underlying  the
     liability for unpaid claims and claim expenses.  This inherent  uncertainty
     is particularly  significant  for  liability-related  exposures,  including
     latent claim issues (such as asbestos and  environmental  related  coverage
     disputes) because of the extended period, often many years, that transpires
     between a loss event,  receipt of related  claims  data from  policyholders
     and/or  primary  insurers  and  ultimate  settlement  of  the  claim.  This
     situation is then further exacerbated for reinsurance  entities (as opposed
     to primary  insurers)  because of lags in  receiving  current  claims data.
     Because  reinsurance  protection is often  provided on an  "excess-of-loss"
     basis  whereby the  reinsurer is only  obligated to pay losses in excess of
     pre-established  limits,  notification  is  required  to be provided to the
     reinsurer   only  when  the  claim  is  assessed  as  having  a  reasonable
     possibility of exceeding the primary insurer's retention  thresholds.  This
     notification can often be years after the loss event was initially reported
     to the primary insurer.

     We continually  update loss estimates using both  quantitative  information
     from  our  reserving  actuaries  and  qualitative  information  from  other
     sources.  While  detailed  analysis is  performed  on a quarterly  basis to
     assess  the  overall   adequacy  of  recorded   claim   reserves,   a  more
     comprehensive  evaluation is  undertaken on an annual basis.  Historically,
     this more comprehensive review has been completed during the fourth quarter
     of each year using both  reported and paid claims  activity as of September
     30.  Adjustments  to recorded  reserves  resulting  from these  reviews are
     accounted for as changes in estimates and included in current operations.

7.   Contingencies  - During the second quarter of 2003, one of our  reinsurance
     company  subsidiaries  received  significant   additional  reported  claims
     related to product liability coverage provided to a  pharmaceutical-related
     entity.  While this matter is in the very early stages, we believe there is
     evidence  indicating  that  our  ultimate   liability,   if  any,  will  be
     considerably  less  than  reported  claims  and have  established  reserves
     consistent with this belief.  As of September 30, 2003,  recorded  reserves
     were approximately $75 million less than reported claim amounts.

     In  connection  with the  events  of  September  11,  2001,  we  accrued  a
     reinsurance  recoverable of approximately  $70 million under an arrangement
     with  two  retrocessionaires.   During  the  third  quarter  of  2003,  the
     retrocessionaires  denied coverage on the grounds that they interpreted the
     underlying  contracts  to only  provide  coverage  for natural  events.  We
     believe that there is compelling evidence supporting our position that such
     contracts also extended to certain  unnatural  events and have not adjusted
     the recorded reinsurance recoverable.  We are currently considering whether
     to pursue binding arbitration or litigation to resolve this matter.

8.   Subsequent  Events - On October 24, 2003, we reached  agreement to sell 95%
     of the common stock of ERC Life Reinsurance  Corporation (ERC Life), one of
     our Life segment legal  entities.  Although the  transaction  is subject to
     regulatory  approval,  we  expect  to  finalize  the  disposition  prior to
     year-end.  As of the anticipated closing date, total assets of ERC Life are
     expected to be approximately $1.4 billion.

     In order to facilitate the disposition of ERC Life, on October 23, 2003, we
     distributed 100% of the common stock of ERC Life's wholly-owned subsidiary,
     Employers Re Corporation (UK) Limited to Employers Reinsurance Corporation.
     We do not  believe  these  transactions,  as a whole,  will have a material
     impact on 2003 net income.

                                       6
<PAGE>



Item 2.  Management's Discussion and Analysis of Results of Operations.

The following  discussion  and analysis of our results of  operations  should be
read in conjunction with our condensed,  consolidated  financial  statements and
related  notes  included  elsewhere  in this  Form  10-Q and  with  Management's
Discussion and Analysis of Financial Condition and Results of Operations for the
year ended December 31, 2002 included in our Form 10-K.

THIRD QUARTER OF 2003 COMPARED WITH THIRD QUARTER OF 2002

Overview

Net earnings for the third quarter of 2003 were $150 million,  which compares to
a net loss of $123  million for the third  quarter of 2002.  The increase in net
earnings  principally  resulted  from  significant  improvement  in current year
underwriting   results  driven  largely  by  the  continued   favorable  pricing
environment  within the overall property and casualty  industry and lower levels
of adverse  development  related to prior year loss events.  To a lesser extent,
the  improvement in  profitability  was also  attributable to an increase in net
investment  income  due  principally  to  higher  levels  of  invested  assests.
Partially offsetting these positive factors was a decrease in net realized gains
on investments and on an increase in general operating costs and expenses.

Although the movement in certain foreign currency exchange rates during 2003 and
2002 had an impact on the individual revenue and expense categories, the overall
impact on net  earnings  was not  significant.  Specifically,  most of the major
European  currencies  strengthened  relative to the U.S. dollar during the third
quarter of 2003 as  compared  with the third  quarter of 2002 and,  accordingly,
this has  contributed  to an  increase  in most of the  individual  revenue  and
expense line items in the accompanying earnings statement.

Our two business  segments  are (1) property and casualty  insurance/reinsurance
and (2) life reinsurance.  Business is conducted  throughout the world utilizing
our network of local offices.  Our operating  segment  activity is summarized as
follows:
<TABLE>
<CAPTION>

                                                    Third Quarter Ended
(Dollars in millions)                                   September 30
                                              ----------------------------------
                                                   2003             2002
                                              ---------------  -----------------
<S>                                              <C>              <C>
Revenues
Property and Casualty                            $ 2,010           $1,774
Life                                                 888              794
                                              ---------------  -----------------
   Total revenues                                $ 2,898           $2,568
                                              ===============  =================

Earnings (loss) before income taxes
Property and Casualty                              $ 183           $ (237)
Life                                                  21               24
                                              ---------------  -----------------
   Total earnings (loss) before income taxes       $ 204           $ (213)
                                              ===============  =================
</TABLE>

Typically,  the  underwriting  performance of property and casualty  business is
measured in terms of a combined  ratio and earnings  before  income  taxes.  The
combined ratio is the sum of the loss ratio and the underwriting  expense ratio.
For the third  quarter of 2003,  the property and  casualty  combined  ratio was
103.4%,  compared  with  138.5%  for the same  period in 2002.  The  significant
improvement in the 2003 third quarter  combined ratio is primarily  attributable
to a decrease in the loss ratio, which reflects both the continued  hardening of
pricing within the overall  property and casualty  insurance  industry and lower
levels of prior-year  adverse  reserve  development  in 2003 compared with 2002.
Earnings  before  income taxes from property and casualty  operations  increased
$420  million to $183  million in the third  quarter of 2003,  principally  as a
result of the lower  combined  ratio  discussed  above  and an  increase  in net
investment  income,  partially  offset by a decrease in net realized  investment
gains.
                                       7
<PAGE>

The life reinsurance  segment typically  measures  performance based on revenues
and earnings before income taxes.  Revenues consist of net premiums earned,  net
investment  income,  net  realized  gains on  investments  and  other  revenues,
including fees generated from  investment-related  life reinsurance products and
financial  reinsurance  transactions.  For the quarter ended September 30, 2003,
the life operations  generated revenues and earnings before income taxes of $888
million  and $21  million,  respectively,  compared  with $794  million  and $24
million,  respectively, for the same period in 2002. The increase in revenues is
principally related to volume growth in certain accident and health premiums and
the impact of changes in foreign  exchange rates applicable to the third quarter
of 2003 versus the third quarter of 2002. Earnings decreased marginally due to a
decrease in net realized gains on investments  and a slight  increase in general
operating costs.

Operating Results

Net premiums  written and net premiums earned  increased $234 million or 10% and
$361 million or 17%,  respectively.  This  increase in premiums can be primarily
attributed  to the  combination  of: (1) Current Year  Factors--  including  the
continued favorable pricing environment within the overall property and casualty
industry,  the impact of changes in foreign  exchange rates and volume growth in
certain  business  sectors,  partially  offset by  decreases  in other  business
sectors  resulting  from the adherence to stricter  underwriting  discipline and
planned  actions taken to exit certain  product lines,  policies,  contracts and
specific customers for which, given the risk, acceptable future levels of profit
did not seem achievable;  and (2) Prior Year Factors--increased  levels of ceded
premiums associated with adverse development related to prior year loss events.

Net  investment  income  increased $39 million or 14% in 2003,  principally as a
result of higher levels of invested assets, somewhat offset by a slight decrease
in overall yield.  The increase in invested assets includes the impact of a $1.8
billion capital contribution received in the fourth quarter of 2002.

Net  realized  gains on  investments  decreased  $90 million in 2003,  primarily
attributable to decreased  opportunities for gains within the overall investment
portfolio.

Other revenues increased $20 million in 2003, primarily attributable to improved
operating results related to certain equity-method investments and higher levels
of fee income.

Claims,  claim  expenses and policy  benefits  decreased  $203 million or 10% in
2003,  principally  related to a lower overall loss to premium  ratio  resulting
from the continued  favorable  pricing  environment  and lower levels of adverse
reserve development  related to prior year loss events,  partially offset by the
impact of changes in foreign exchange rates.

As we reported previously, during the fourth quarter of 2002, we reevaluated the
recorded claim reserves for certain  liability-related  exposures in response to
continued   escalated  levels  of  reported  claims  activity.   Following  this
evaluation,  we  concluded  that the  accumulated  data  supported  an increased
estimate of the ultimate  losses in several  lines of business  underwritten  in
1997 through 2001. Following these adjustments, we continued to monitor reported
claims activity for these lines of business.  For certain lines of business, the
2003 to-date  reported claims activity for prior accident years has continued to
develop at a level  exceeding  our revised  expectations.  As a result,  we made
further upward  adjustments of approximately  $190 million to reflect  increased
estimates of ultimate  losses in the third  quarter of 2003. We will continue to
monitor  reported  claims  activity  for all lines of business in the future and
take necessary reserve  actions--either to increase or decrease reserves--as our
estimates mature.

Insurance  acquisition  costs  increased  $81 million or 18% in 2003,  primarily
attributable to the increase in net premiums earned discussed above.
                                       8
<PAGE>

Other  operating  costs  and  expenses  increased  $35  million  or 19% in 2003,
primarily resulting from an increase in both the number of employees and average
salaries  and  related  benefits  costs  coupled  with the  impact of changes in
foreign currency exchange rates.

Provision  for income  taxes was $54 million  for the third  quarter of 2003 (an
effective  tax rate of 26.5%),  compared  with a benefit of $90  million for the
third  quarter of 2002 (an  effective  tax rate of 42.3%).  In a pre-tax  income
quarter  such as  2003,  tax-exempt  income  reduces  otherwise  taxable  income
(resulting in a lower effective tax rate),  while in a pre-tax loss quarter such
as 2002,  the existence of tax-exempt  investment  income serves to increase the
otherwise taxable loss (resulting in a higher effective tax rate).

FIRST NINE MONTHS OF 2003 COMPARED WITH FIRST NINE MONTHS OF 2002

Overview

Net earnings for the first nine months of 2003 were $407 million, which compares
to a net loss of $255 million for the first nine months of 2002. The increase in
net earnings principally  resulted from significant  improvement in current year
underwriting   results  driven  largely  by  the  continued   favorable  pricing
environment  within the overall property and casualty  industry and lower levels
of  adverse  development  related  to  loss  events.  To a  lesser  extent,  the
improvement  in  profitability  was  also  attibutable  to an  increase  in  net
investment  income,  due  principally  to  higher  levels  of  invested  assets.
Partially offestting these positive factors was a decrease in net realized gains
on investments and an increase in general operating costs and expenses.

Although the movement in certain foreign currency exchange rates during 2003 and
2002 had an impact on the individual revenue and expense categories, the overall
impact on net  earnings  was not  significant.  Specifically,  most of the major
European  currencies  strengthened  relative to the U.S. dollar during the first
nine  months  of 2003 as  compared  with the  first  nine  months  of 2002  and,
accordingly,  this has  contributed  to an  increase  in most of the  individual
revenue and expense line items in the accompanying earnings statement.

Our two business  segments  are (1) property and casualty  insurance/reinsurance
and (2) life reinsurance.  Business is conducted  throughout the world utilizing
our network of local offices.  Our operating  segment  activity is summarized as
follows:

<TABLE>
<CAPTION>


(Dollars in millions)                               Nine Months Ended
                                                       September 30
                                              ----------------------------------
                                                    2003             2002
                                              ----------------  ----------------
<S>                                               <C>              <C>
Revenues
Property and Casualty                             $ 6,061          $ 4,917
Life                                                2,599            2,038
                                              ----------------  ----------------
   Total revenues                                 $ 8,660          $ 6,955
                                              ================  ================

Earnings (loss) before income taxes
Property and Casualty                              $  476           $ (520)
Life                                                   90               81
                                              ----------------  ----------------
   Total earnings (loss) before income taxes       $  566           $ (439)
                                              ================  ================
</TABLE>
                                       9
<PAGE>



Typically,  the  underwriting  performance of property and casualty  business is
measured in terms of a combined  ratio and earnings  before  income  taxes.  The
combined ratio is the sum of the loss ratio and the underwriting  expense ratio.
For the first nine months of 2003, the property and casualty  combined ratio was
103.1%,  compared  with  128.0%  for the same  period in 2002.  The  significant
improvement in the 2003 combined ratio is primarily  attributable  to a decrease
in the loss ratio, which reflects both the continued hardening of pricing within
the  overall  property  and  casualty  insurance  industry  and lower  levels of
prior-year  adverse  reserve  development  in 2003 compared with 2002.  Earnings
before income taxes from property and casualty operations increased $996 million
to $476  million for the first nine months of 2003,  principally  as a result of
the lower  combined  ratio  discussed  above and an increase  in net  investment
income, partially offset by a decrease in net realized investment gains.

The life reinsurance  segment typically  measures  performance based on revenues
and earnings before income taxes.  Revenues consist of net premiums earned,  net
investment  income,  net  realized  gains on  investments  and  other  revenues,
including fees generated from  investment-related  life reinsurance products and
financial reinsurance transactions.  For the first nine months of 2003, the life
reinsurance  operations  generated  revenues and earnings before income taxes of
$2,599 million and $90 million,  respectively,  compared with $2,038 million and
$81 million, respectively, for the same period in 2002. The increase in revenues
is  principally  related  to the  acquisition  of a block  of  life  reinsurance
business  in the third  quarter  of 2002 (the "AUL  acquisition"),  core  volume
growth in  certain  accident  and health  premiums  and the impact of changes in
foreign  currency  exchange  rates  applicable  to the first nine months of 2003
versus the first nine months of 2002. The increase in earnings is also primarily
attributable  to these factors,  except that the revenue  growth  resulting from
changes  in  foreign   currency   exchange  rates  was  largely   negated  by  a
corresponding increase in associated costs and expenses.

Operating Results

Net premiums written and net premiums earned increased $1,337 million or 22% and
$1,661 million or 29%, respectively.  This increase in premiums can be primarily
attributed  to the  combination  of: (1)  Current  Year  Factors--including  the
continued favorable pricing environment within the overall property and casualty
industry,  additional  premiums resulting from the AUL acquisition  completed in
the third quarter of 2002,  the impact of changes in foreign  currency  exchange
rates and  volume  growth  in  certain  business  sectors,  partially  offset by
decreases in other  business  sectors  resulting  from the adherence to stricter
underwriting  discipline and  intentional  actions taken to exit certain product
lines,  policies,  contracts and specific  customers for which,  given the risk,
acceptable  future levels of profit did not seem achievable;  and (2) Prior Year
Factors--increased  levels of ceded premiums associated with adverse development
related to prior year loss events.

Net  investment  income  increased $79 million or 10% in 2003,  principally as a
result of higher levels of invested assets, somewhat offset by a slight decrease
in overall yield.  The increase in invested assets includes the impact of a $1.8
billion capital contribution  received in the fourth quarter of 2002 and the AUL
acquisition that occurred in the third quarter of 2002.

Net  realized  gains  on  investments  decreased  $65  million  or 31% in  2003,
primarily  attributable to decreased  opportunities for gains within the overall
investment  portfolio  and a  higher  level of  other-than-temporary  impairment
charges recognized in 2003 as compared to 2002.

Other revenues increased $30 million or 28% in 2003,  primarily  attributable to
improved  operating  results  related to certain  equity-method  investments and
higher levels of fee income.

Claims, claim expenses and policy benefits increased $419 million or 8% in 2003,
principally  resulting from the AUL acquisition  discussed  above, the impact of
changes  in  foreign  currency  exchange  rates,  and  volume  growth in certain
business   sectors,   partially  offset  by  lower  levels  of  adverse  reserve
development related to prior year loss events.
                                       10
<PAGE>


As we reported previously, during the fourth quarter of 2002, we reevaluated the
recorded claim reserves for certain  liability-related  exposures in response to
continued   escalated  levels  of  reported  claims  activity.   Following  this
evaluation,  we  concluded  that the  accumulated  data  supported  an increased
estimate of the ultimate  losses in several  lines of business  underwritten  in
1997 through 2001. Following these adjustments, we continued to monitor reported
claims activity for these lines of business.  For certain lines of business, the
to-date  reported  claims  activity for prior  accident  years has  continued to
develop  at  a  level  exceeding  our  revised  expectations.  In  addition,  we
incorporated  a  more   pessimistic  view  of  the  potential  for  individually
significant  losses on  certain  Product  Liability  and  Directors  &  Officers
exposures  in the  second  quarter of this year.  As a result,  we made  further
upward adjustments of approximately $540 million to reflect increased  estimates
of ultimate losses in 2003. We will continue to monitor reported claims activity
for  all  lines  of   business  in  the  future  and  take   necessary   reserve
actions--either to increase or decrease reserves--as our estimates mature.

Insurance  acquisition  costs  increased $184 million or 14% in 2003,  primarily
attributable to the increase in net premiums earned discussed above.

Other  operating  costs  and  expenses  increased  $96  million  or 18% in 2003,
primarily  resulting  from:  (1) an increase in both the number of employees and
average salaries and related  benefits costs; (2) the AUL acquisition  discussed
above; and (3) the impact of changes in foreign currency exchange rates.

Provision  for income  taxes was $159  million for the first nine months of 2003
(an  effective  tax rate of 28.1%),  compared with a benefit of $184 million for
the first nine  months of 2002 (an  effective  tax rate of 41.9%).  In a pre-tax
income year such as 2003,  tax-exempt  income reduces  otherwise  taxable income
(resulting in a lower effective tax rate),  while in a pre-tax loss year such as
2002,  the  existence of  tax-exempt  investment  income  serves to increase the
otherwise taxable loss (resulting in a higher effective tax rate).

Other Considerations

Investment portfolio

Our investment  portfolio consists primarily of investment grade debt securities
and was $27.2  billion,  including  gross  unrealized  gains and  losses of $797
million and $257 million,  respectively,  at September  30, 2003,  compared with
$26.8 billion,  including gross  unrealized gains and losses of $558 million and
$263 million,  respectively,  as of December 31, 2002. Investment securities are
regularly  reviewed for impairment  based on criteria that include the extent to
which cost exceeds  market  value,  the duration of that market  decline and the
financial  health and specific  prospects  for the issuer.  Of those  securities
whose carrying amount  exceeded fair value at September 30, 2003,  approximately
$55.0 million is at risk of being charged to earnings in the next 12 months.

Ratings action

During the quarter ended September 30, 2003,  Standard & Poor's Ratings Services
revised its rating on our senior debt securities to "A-" from "A". Concurrently,
the  financial  strength  rating and  counterparty  credit  ratings on Employers
Reinsurance  Corp. (and  affiliated  non-life  insurance/reinsurance  entities),
Employers  Reassurance Corp. and ERC Life Reinsurance Corp. were revised to "A+"
from "AA-". We do not believe these actions will materially affect our liquidity
or capital resources or the ability to write future business.
                                       11
<PAGE>

Forward Looking Statements

This document includes certain  "forward-looking  statements" within the meaning
of the Private Securities  Litigation Reform Act of 1995. These  forward-looking
statements include, but are not limited to our plans,  objectives,  expectations
and  intentions  and other  statements  contained  in this  report  that are not
historical  facts as well as  statements  identified by words such as "expects",
"anticipates",  "intends", "plans", "believes", "seeks", "estimates" or words of
similar  meaning.   These  statements  are  based  on  our  current  beliefs  or
expectations and are inherently subject to significant uncertainties and changes
in  circumstances,  many of which are beyond our  control.  Actual  results  may
differ  materially from these  expectations due to changes in global  political,
economic, business, competitive, market and regulatory factors.

Item 4.  Controls and Procedures

As of September 30, 2003,  under  direction of our Chief  Executive  Officer and
Chief  Financial  Officer,  we evaluated  the  effectiveness  of our  disclosure
controls and  procedures  and internal  controls  over  financial  reporting and
concluded that (i) our disclosure  controls and procedures  were effective as of
September  30,  2003,  and (ii) no changes  occurred  during the  quarter  ended
September 30, 2003, that have materially  affected,  or are reasonably likely to
materially affect, such internal controls.
                                       12
<PAGE>



                           PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K.

a.   Exhibits.

     Exhibit 12.  Computation of Ratio of Earnings to Fixed Charges.

     Exhibit 31.  Certifications  Pursuant to Section  302 of the Sarbanes-Oxley
                  Act of 2002.

     Exhibit 32.  Certification Pursuant to 18  U.S.C. Section 1350, as Adopted
                  Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

b.   Reports on Form 8-K.

A current  report on Form 8-K was filed on  September  3,  2003,  under  Item 5,
reporting  that Standard & Poor's Ratings  Services  revised its ratings for the
Company and certain of its insurance subsidiaries.
                                       13
<PAGE>


                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
     registrant  has duly  caused  this report to be signed on its behalf by the
     undersigned thereunto duly authorized.


                                   GE GLOBAL INSURANCE HOLDING CORPORATION
                                   ---------------------------------------
                                                 (Registrant)




Date:  October 31, 2003            By: /s/ William J. Steilen
                                     -------------------------------------------
                                     William J. Steilen
                                     Vice President and Controller
                                     (Principal Accounting Officer)


                                       14
<PAGE>