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

                                 ---------------
                                    FORM 10-Q
                                 ---------------

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

                   For the quarterly period ended June 27, 1998
                                                  ------------- 

                                       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                      66201      
(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 July 31,  1998,  1,000 shares of common stock with a par value of $5,000 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.


<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.................................................5

Exhibit 12.         Computation of Ratio of Earnings to Fixed Charges.............................................................7

   
PART II - OTHER INFORMATION.

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

Signatures.         ..............................................................................................................9

Index to Exhibits.  .............................................................................................................10
</TABLE>


<PAGE>
                                       PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

<TABLE>
<CAPTION>
                                               GE GLOBAL INSURANCE HOLDING CORPORATION
                                                           AND SUBSIDIARIES            

                                 Condensed, Consolidated Statement of Current and Retained Earnings

                                                             (Unaudited)


                                                        Three months ended                                   Six months ended
                                                 -------------------------------                     -------------------------------
(In millions)                                    June 27, 1998     June 28, 1997                     June 27, 1998     June 28, 1997
                                                 -------------     -------------                     -------------     -------------
<S>                                                    <C>               <C>                               <C>               <C>    

Revenues
Net premiums written                                 $1,396            $1,183                            $2,840            $2,592   
                                                     ======            ======                            ======            ====== 

Net premiums earned                                  $1,434            $1,214                            $2,641            $2,558
Net investment income                                   234               211                               470               435
Net realized gains on investments                        92               100                               216               188
Other revenues                                           33                22                                61                35
                                                     ------            ------                            ------            ------
Total revenues                                        1,793             1,547                             3,388             3,216
                                                     ------            ------                            ------            ------

Costs and Expenses
Claims, claim expenses and policy benefits            1,025               879                             1,873             1,934
Insurance acquisition costs                             354               304                               662               552
Other operating costs and expenses                      126               118                               253               237
Minority interest in net earnings of
   consolidated subsidiaries                             22                21                                43                42
                                                     ------            ------                            ------            ------
Total costs and expenses                              1,527             1,322                             2,831             2,765
                                                     ------            ------                            ------            ------

Earnings before income taxes                            266               225                               557               451
                                                                              

Provision for income taxes                               70                70                               156               138
                                                     ------            ------                            ------            ------

Net earnings                                            196               155                               401               313
Dividends on preferred stock                             (2)               (2)                               (4)               (4)
Retained earnings at beginning of period              3,863             3,401                             3,660             3,245
                                                     ------            ------                            ------            ------
                                                                       
Retained earnings at end of period                   $4,057            $3,554                            $4,057            $3,554
                                                     ======            ======                            ======            ======
</TABLE>


See Notes to Condensed, Consolidated Financial Statements.


                                                                  1


<PAGE>
Item 1.  Financial Statements (Continued).

<TABLE>
<CAPTION>
                                               GE GLOBAL INSURANCE HOLDING CORPORATION
                                                           AND SUBSIDIARIES

                                       Condensed, Consolidated Statement of Financial Position


(In millions)                                                                                    June 27, 1998     December 31, 1997
                                                                                                 -------------     -----------------
                                                                                                  (Unaudited)
<S>                                                                                                    <C>                 <C>    

Assets
Investments:
   Fixed maturity securities available-for-sale, at fair value                                      $14,949             $14,816 
   Equity securities, at fair value                                                                   2,834               2,513
   Other invested assets                                                                                778               1,014
                                                                                                    -------             -------
   Total investments                                                                                 18,561              18,343

Cash                                                                                                    260                 269
Premiums receivable                                                                                   2,557               2,279
Other receivables                                                                                     1,341               1,189 
Reinsurance recoverables                                                                              2,963               2,791
Deferred insurance acquisition costs                                                                    986                 844
Other assets                                                                                          2,058               1,817
                                                                                                    -------             -------

Total assets                                                                                        $28,726             $27,532
                                                                                                    =======             =======

Liabilities and equity
Claims and claim expenses                                                                           $10,860             $10,961 
Accumulated contract values                                                                           2,294               2,305
Future policy benefits for life and health contracts                                                  1,706               1,604
Unearned premiums                                                                                     1,567               1,244
Other reinsurance balances                                                                            1,681               1,125
Other liabilities                                                                                     2,949               3,186
Long-term borrowings                                                                                    556                 556
                                                                                                    -------             -------
   Total liabilities                                                                                 21,613              20,981
                                                                                                    -------             -------

Minority interest in equity of consolidated subsidiaries                                              1,177               1,177
                                                                                                    -------             -------


Common stock                                                                                              5                   5
Preferred stock                                                                                         150                 150 
Paid-in capital                                                                                         845                 845
Accumulated non-owner changes in equity                                                                 879                 714
Retained earnings                                                                                     4,057               3,660
                                                                                                    -------             -------
   Total stockholder's equity                                                                         5,936               5,374
                                                                                                    -------             -------

Total liabilities and equity                                                                        $28,726             $27,532
                                                                                                    =======             =======
</TABLE>


See Notes to Condensed, Consolidated Financial Statements.


                                                                  2


<PAGE>
Item 1.  Financial Statements (Continued).

<TABLE>
<CAPTION>
                                               GE GLOBAL INSURANCE HOLDING CORPORATION
                                                           AND SUBSIDIARIES            

                                           Condensed, Consolidated Statement of Cash Flows

                                                             (Unaudited)


                                                                                                           Six months ended     
                                                                                                 -----------------------------------
(In millions)                                                                                    June 27, 1998         June 28, 1997
                                                                                                 -------------         -------------
<S>                                                                                                    <C>                   <C>   

Cash from operating activities                                                                      $   218               $   379
                                                                                                    -------               -------
 
Cash Flows From Investing Activities
Fixed maturity securities available-for-sale:
   Purchases                                                                                         (2,178)               (3,481)
   Sales                                                                                              1,720                 2,534
   Maturities                                                                                           379                   315
Equity securities:
   Purchases                                                                                           (585)                 (614)
   Sales                                                                                                676                   611
Net (purchases) sales of short-term investments                                                         251                  (275)
Cash paid for acquisitions and in force
   reinsurance transactions                                                                            (143)                    -
Other investing activities                                                                               (9)                  (38)
                                                                                                    -------               -------
   Cash from (used for) investing activities                                                            111                  (948)
                                                                                                    -------               -------

Cash Flows From Financing Activities
Change in contract deposits                                                                            (367)                  435
Net contract accumulation receipts (payments)                                                           (10)                   46
Proceeds from short-term borrowings                                                                      15                     -
Dividends paid                                                                                           (4)                   (4)
                                                                                                    -------               -------
   Cash from (used for) financing activities                                                           (366)                  477
                                                                                                    -------               -------

Effect of exchange rate changes on cash                                                                  28                  (100)
                                                                                                    -------               -------

Increase (decrease) in cash                                                                              (9)                 (192)
Cash at beginning of period                                                                             269                   377
                                                                                                    -------               -------
Cash at end of period                                                                               $   260               $   185
                                                                                                    =======               =======
</TABLE>


See Notes to Condensed, Consolidated Financial Statements.


                                                                  3


<PAGE>
Item 1.  Financial Statements (Continued).


                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

              Notes to Condensed, Consolidated Financial Statements

                                   (Unaudited)


1.       The accompanying condensed, consolidated quarterly financial statements
         represent  the  adding   together  of  GE  Global   Insurance   Holding
         Corporation  and its  wholly-owned  subsidiary,  Employers  Reinsurance
         Corporation and its consolidated subsidiaries (collectively called "the
         Corporation").  All  significant  intercompany  transactions  have been
         eliminated. Certain prior period data have been reclassified to conform
         to the current presentation.

2.       The  condensed,   consolidated   quarterly  financial   statements  are
         unaudited.  These  statements  include all  adjustments  (consisting of
         normal  recurring  accruals)  considered  necessary  by  management  to
         present  a fair  statement  of the  results  of  operations,  financial
         position  and cash  flows.  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.       Statement  of  Financial   Accounting   Standards  No.  130,  Reporting
         Comprehensive Income, was adopted as of January 1, 1998. This statement
         requires  reporting  of changes  in share  owners'  equity  that do not
         result  directly from  transactions  with share owners.  An analysis of
         these changes follows:
         

                                                         Six months ended
                                                 -------------------------------
         (In millions)                           June 27, 1998     June 28, 1997
                                                 -------------     -------------

         Net earnings                                 $401              $313
         Unrealized gains on investment
            securities                                 174               106
         Foreign currency translation
            adjustments                                 (9)              (45)
                                                      ----              ----

         Total                                        $566              $374
                                                      ====              ====

4.       On July 31, 1998, the Company  entered into a stock purchase  agreement
         to  acquire  100%  of the  outstanding  shares  of  Kemper  Reinsurance
         Company, a property and casualty  reinsurance company principally doing
         business  through  intermediaries.  The cash  consideration  of  $463.5
         million is expected to be financed by utilizing  existing unused credit
         facilities.  The  acquisition  will  be  accounted  for as a  purchase;
         accordingly,  the purchase  price will be  allocated to the  underlying
         assets and liabilities based on their respective  estimated fair values
         at the date of the acquisition. In anticipation of closing, the Company
         has  transferred  $100  million  into an escrow  account  to secure its
         performance  under the stock  purchase  agreement,  which  amount  will
         either be credited at closing against the purchase price payment due or
         forfeited  if, in certain  circumstances,  the Company fails to perform
         under the terms of the agreement.


                                         4


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


Overview

Net earnings for the first six months of 1998 was $401  million,  an $88 million
increase over the first six months of 1997,  reflecting  growth in  underwriting
origination volume, including  investment-related life and financial reinsurance
products whose fee income is classified as other revenues,  increased investment
income due to continued  growth in the investment  portfolios and a higher level
of net realized gains on investments.

The  Company's  two  primary   business   segments  are  property  and  casualty
insurance/reinsurance and life reinsurance. Business is conducted throughout the
world utilizing the Company's network of local offices.  As reflected below, the
continued  strengthening  of the U.S.  dollar  during 1998  impacted  individual
operating  line items,  however,  the  overall  impact on net  earnings  was not
significant.

Property  and  casualty  insurance/reinsurance  (P&C) is the  larger  of the two
business segments.  Typically,  the underwriting  performance of P&C 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 six months of 1998, the P&C combined ratio was 100.0%  compared to
103.3% for the same period in 1997. The lower combined ratio primarily  reflects
a general  improvement in incurred loss development  caused by a decline in both
the  frequency  and severity of claims.  Earnings  before  income taxes from P&C
operations increased $110 million in the first six months of 1998, primarily due
to the decrease in the combined  ratio and an increase in net realized  gains on
investments.

The life reinsurance  segment typically  measures  performance based on revenues
and earnings before income taxes. Revenues include life insurance premiums,  net
investment income, net realized gains on investments and fee income from certain
investment-related  products.  For the  first  six  months  of  1998,  the  life
operations  generated  revenues and earnings before income taxes of $719 million
and $68  million,  respectively,  compared  to  $791  million  and $72  million,
respectively,  for the same period in 1997.  The  decrease in both  revenues and
earnings before income taxes primarily  reflects three  significant  quota share
reinsurance contracts entered into in 1997 that did not recur in 1998.


Operating Results

Net premiums written  increased $248 million or 10% over the first six months of
1997, primarily  attributable to growth in various product lines,  including new
P&C business  associated  with the acquisition of the renewal rights of business
from Industrial Risk Insurers ("IRI") and Coregis Insurance Company ("Coregis").
This  increase  was  partially  offset by three  significant  quota  share  life
reinsurance contracts obtained in 1997 that did not recur in 1998 and the impact
of foreign currency translation.

Net  premiums  earned  increased  $83 million or 3% over the first six months of
1997, primarily  attributable to growth in various product lines,  including new
P&C business associated with IRI and Coregis. This increase was partially offset
by three  significant  quota share life reinsurance  contracts  obtained in 1997
that did not recur in 1998 and the impact of foreign currency  translation.  The
resulting change in product mix creates a lower proportion of premiums earned to
premiums  written  due to the  fundamental  difference  in  the  earned  premium
recognition policies between P&C and life business.


                                        5


<PAGE>
Item 2. Management's Discussion and Analysis of Results of Operations (cont'd).


Net investment  income  increased $35 million or 8% over the first six months of
1997,  primarily   attributable  to  the  continued  growth  in  the  investment
portfolios, partially offset by the impact of foreign currency translation.

Net realized  gains on  investments  increased $28 million or 15% over the first
six months of 1997, primarily due to restructuring certain investment portfolios
and capitalizing on favorable market conditions that existed in 1998.

Other  revenues  increased  $26  million  over the  first  six  months  of 1997,
primarily   attributable   to  fees  generated  from   investment-related   life
reinsurance products and financial reinsurance transactions.

Claims,  claim expenses and policy benefits decreased $61 million or 3% over the
first six months of 1997 which does not  correspond  with the 3% increase in net
premiums  earned.  This  condition is primarily due to the change in product mix
related to the decrease in life reinsurance  business which  incorporated a high
loss ratio and low commission ratio,  coupled with favorable loss development in
certain P&C product lines.

Insurance  acquisition  costs  increased  $110 million or 20% over the first six
months of 1997 which exceeded the 3% increase in net premiums  earned  primarily
due to the  change in life  reinsurance  product  mix toward  higher  commission
business.  In addition,  the 1997 period included a relatively higher proportion
of life  reinsurance  business which  incorporated a low commission  ratio and a
high loss ratio.

Other  operating  costs and expenses  increased $16 million or 7% over the first
six months of 1997. The increase  primarily  reflects operating costs associated
with the  Company's  acquisition  of the  business  related to IRI and  Coregis,
partially offset by the impact of foreign currency translation.

Provision for income taxes was $156 million for the first six months of 1998 (an
effective tax rate of 28.0%),  compared to $138 million for the first six months
of 1997 (an effective tax rate of 30.6%). The lower effective tax rate primarily
reflects  decreased taxes on foreign earnings as a result of additional  foreign
tax credit capacity  attributable  to the Company's life insurance  subsidiary's
inclusion in the consolidated  federal income tax return of GE Company beginning
in the fourth quarter of 1997.


Subsequent Event

As more  fully  described  in Note 4 of the  Notes  to  Condensed,  Consolidated
Financial  Statements,  on July  31,  1998,  the  Company  entered  into a stock
purchase  agreement  to  acquire  100%  of  the  outstanding  shares  of  Kemper
Reinsurance  Company, a property and casualty  reinsurance  company  principally
doing business through intermediaries.


                                        6


<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 27.  Financial Data Schedule (filed electronically only)

b.  Reports on Form 8-K.

       None.


                                        8


<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:  August 3, 1998       By:             /s/ ROBERT J. DELLINGER             
                               -------------------------------------------------
                                              Robert J. Dellinger
                               Senior Vice President and Chief Financial Officer
                                  (Principal Financial and Accounting Officer)


                                        9


<PAGE>
                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

                                Index to Exhibits


Exhibit No.                                                                 Page
-----------                                                                 ----

    12       Computation of ratio of earnings to fixed charges................7

    27       Financial Data Schedule (filed electronically only)


                                       10