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 29, 2002
                                                 -------------


                                       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 July 31,  2002,  1,000  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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                                                             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.................................       8

    Exhibit 12.             Computation of Ratio of Earnings to Fixed Charges.............................................      13

    Exhibit 99.1.           Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 Of The
                            Sarbanes-Oxley Act Of 2002 ...................................................................      14

    Exhibit 99.2.           Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 Of The
                            Sarbanes-Oxley Act Of 2002 ...................................................................      15


    PART II - OTHER INFORMATION.

    Item 6.                 Exhibits and Reports on Form 8-K..............................................................      16

    Signatures.             ..............................................................................................      17

    Index to Exhibits.      ..............................................................................................      18

</TABLE>



<PAGE>
<TABLE>
<CAPTION>

                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.


                     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 29, 2002    June 30, 2001      June 29, 2002    June, 30 2001
                                                                  -------------    -------------      -------------    -------------
<S>                                                                   <C>              <C>                 <C>             <C>
Revenues
Net premiums written                                                  $1,620           $1,945              $3,739          $4,047
                                                                      ======           ======              ======          ======

Net premiums earned                                                   $1,719           $2,000              $3,710          $4,011
Net investment income                                                    272              290                 543             606
Net realized gains on investments                                         18               77                  58             141
Other revenues                                                            21              154                  76             200
                                                                      ------           ------              ------          ------
Total revenues                                                         2,030            2,521               4,387           4,958
                                                                      ------           ------              ------          ------

Costs and Expenses
Claims, claim expenses and policy benefits                             1,693            1,649               3,307           3,267
Insurance acquisition costs                                              469              480                 899             968
Other operating costs and expenses                                       183              187                 363             391
Minority interest in net earnings of
   consolidated subsidiaries                                              22               23                  44              45
                                                                      ------           ------              ------          ------
Total costs and expenses                                               2,367            2,339               4,613           4,671
                                                                      ------           ------              ------          ------

Earnings (loss)
Earnings (loss) before income taxes and cumulative effect
   of change in accounting principle                                    (337)             182                (226)            287
Income tax expense (benefit)                                            (120)              56                 (94)             79
                                                                      ------           ------              ------          ------

Earnings (loss) before cumulative effect of change
    in accounting principle                                             (217)             126                (132)            208

Cumulative effect of change in accounting principle                        -                -                   -             (11)
                                                                      ------           ------              ------          ------

Net earnings (loss)                                                     (217)             126                (132)            197
Dividends on preferred stock                                              (2)              (2)                 (4)             (4)
Retained earnings at beginning of period                               5,085            5,273               5,002           5,204
                                                                      ------           ------              ------          ------
Retained earnings at end of period                                    $4,866           $5,397              $4,866          $5,397
                                                                      ======           ======              ======          ======

</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 29, 2002         December 31, 2001
                                                                                -------------         -----------------
                                                                                 (Unaudited)

<S>                                                                                <C>                     <C>
Assets
Investments:
  Fixed maturity securities, at fair value                                         $20,311                 $19,769
  Equity securities, at fair value                                                     655                     641
  Other invested assets                                                              2,244                   2,085
                                                                                   -------                 -------
  Total investments                                                                 23,210                  22,495

Cash                                                                                   455                     470
Premiums receivable                                                                  4,380                   4,376
Other receivables                                                                    1,379                   1,402
Reinsurance recoverables                                                            10,443                  10,367
Deferred insurance acquisition costs                                                 1,636                   1,615
Other assets                                                                         4,308                   4,393
                                                                                   -------                 -------

Total assets                                                                       $45,811                 $45,118
                                                                                   =======                 =======


Liabilities and equity
Claims and claim expenses                                                          $22,096                 $22,033
Accumulated contract values                                                          2,829                   2,909
Future policy benefits for life and health contracts                                 3,156                   2,965
Unearned premiums                                                                    2,921                   2,763
Other reinsurance balances                                                           3,287                   2,935
Other liabilities                                                                    2,242                   2,313
Long-term borrowings                                                                 1,655                   1,655
                                                                                   -------                 -------
  Total liabilities                                                                 38,186                  37,573
                                                                                   -------                 -------

Minority interest in equity of consolidated subsidiaries                             1,184                   1,183
                                                                                   -------                 -------

Accumulated non-owner changes in equity:
  Accumulated unrealized gains on investment
      securities - net                                                                 100                      23
  Accumulated foreign currency translation adjustments                                (116)                   (241)
  Derivatives qualifying as hedges                                                      11                      (2)
                                                                                   -------                 -------
      Total accumulated non-owner changes in equity                                     (5)                   (220)

Preferred stock                                                                        150                     150
Common stock                                                                             5                       5
Paid-in capital                                                                      1,425                   1,425
Retained earnings                                                                    4,866                   5,002
                                                                                   -------                 -------
  Total stockholder's equity                                                         6,441                   6,362
                                                                                   -------                 -------

Total liabilities and equity                                                       $45,811                 $45,118
                                                                                   =======                 =======

</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 29, 2002           June 30, 2001
                                                                   -------------           -------------

<S>                                                                  <C>                      <C>
Cash from operating activities                                       $   328                  $   213
                                                                     -------                  -------

Cash Flows From Investing Activities
Fixed maturity securities:
  Purchases                                                           (6,065)                  (7,476)
  Sales                                                                4,994                    6,703
  Maturities                                                             881                      502
Equity securities:
  Purchases                                                             (315)                    (196)
  Sales                                                                  331                       84
Net (purchases) sales of short-term investments                         (106)                     120
Other investing activities                                               (75)                      16
                                                                     -------                  -------
  Cash used for investing activities                                    (355)                    (247)
                                                                     -------                  -------

Cash Flows From Financing Activities
Change in contract deposits                                               13                        2
Net contract accumulation payments                                       (81)                     (10)
Proceeds from short-term borrowings                                       70                       64
Principal payments on short-term borrowings                              (21)                      (9)
Dividends paid                                                            (4)                      (4)
                                                                     -------                  -------
  Cash from (used for) financing activities                              (23)                      43
                                                                     -------                  -------

Effect of exchange rate changes on cash                                   35                      110
                                                                     -------                  -------

Increase (decrease) in cash                                              (15)                     119
Cash at beginning of period                                              470                      196
                                                                     -------                  -------
Cash at end of period                                                $   455                  $   315
                                                                     =======                  =======

</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 of
     GE  Global Insurance  Holding  Corporation ("GE Global Insurance")  include
     the accounts and operations, after intercompany eliminations,  of GE Global
     Insurance  and  its  wholly-owned   subsidiaries,   Employers   Reinsurance
     Corporation, GE Reinsurance Corporation and Medical Protective Corporation.
     GE Global  Insurance and its  consolidated  subsidiaries  are  collectively
     referred to as "the Company."

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.   The  Financial   Accounting  Standards   Board's   ("FASB")   Statement  of
     Financial  Accounting Standards ("SFAS") 142, Goodwill and Other Intangible
     Assets,  generally  became  effective  on January 1, 2002.  Under SFAS 142,
     goodwill is no longer  amortized but is tested for impairment  using a fair
     value methodology.

     The  Company  ceased  amortizing   goodwill   effective  January  1,  2002.
     Simultaneously,  to  maintain a  consistent  basis for its  measurement  of
     performance,  management revised previously-reported segment information to
     correspond  to the earnings  measurements  by which  businesses  were to be
     evaluated.  In  accordance  with the  requirements  of SFAS 131,  Reporting
     Segments of a Business  Enterprise,  previously  reported  segment  results
     (presented in footnote 6), have been  restated to be  consistent  with 2002
     reporting.  Goodwill  amortization  expense  for the  quarter and first six
     months ended June 30, 2001, was $20 million ($16 million after-tax) and $42
     million ($34 million  after-tax),  respectively.  The effect on earnings of
     excluding such goodwill  amortization from the second quarter and first six
     months of 2001 follows:
<TABLE>
<CAPTION>


                                                                Three months ended                          Six months ended
                                                          -------------------------------           -------------------------------
(In millions)                                             June 29, 2002     June 30, 2001           June 29, 2002     June 30, 2001
                                                          -------------     -------------           -------------     -------------

<S>                                                           <C>                <C>                    <C>                <C>
Earnings (loss) before cumulative effect of
  change in accounting principle                              $(217)             $126                   $(132)             $208
                                                              -----              ----                   -----              ----

Earnings (loss) before cumulative effect of
  change in accounting principle,
  excluding goodwill amortization                             $(217)             $142                   $(132)             $242
                                                              -----              ----                   -----              ----


Net earnings (loss)                                           $(217)             $126                   $(132)             $197
                                                              -----              ----                   -----              ----

Net earnings (loss), excluding 2001
  goodwill amortization                                       $(217)             $142                   $(132)             $231
                                                              -----              ----                   -----              ----

</TABLE>
                                       4

<PAGE>

Item 1.  Financial Statements (Continued).

                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

        Notes to Condensed, Consolidated Financial Statements (Continued)

3.  (continued)

     Under SFAS 142, the Company was required to test all existing  goodwill for
     impairment as of January 1, 2002, on a "reporting  unit" basis. A reporting
     unit is the operating  segment  unless,  at businesses one level below that
     operating segment (the "component" level),  discrete financial  information
     is  prepared  and  regularly  reviewed  by  management,  in which case such
     component  is the  reporting  unit.

     A fair  value  approach  is  used  to  test  goodwill  for  impairment.  An
     impairment  charge  is  recognized  for the  amount,  if any,  by which the
     carrying  amount of  goodwill  exceeds  its fair  value.  Fair  values were
     established using discounted cash flows. When available and as appropriate,
     comparative market multiples were used to corroborate  discounted cash flow
     results.

     The result of testing  goodwill of the Company for impairment in accordance
     with SFAS 142, as of January 1, 2002, resulted in no impairment charge.
<TABLE>
<CAPTION>


                                                            At June 29, 2002                     At December 31, 2001
                                                      --------------------------            ------------------------------
(In millions)                                          Gross                                 Gross
                                                      Carrying      Accumulated             Carrying          Accumulated
                                                       Amount       Amortization             Amount           Amortization
                                                      --------      ------------            --------          ------------
<S>                             <C>                     <C>            <C>                    <C>                <C>
Intangibles Subject to Amortization
Present value of future profits ("PVFP")                $271           $(114)                 $267               $(102)
Capitalized software                                     184             (52)                  185                 (43)
All other                                                  5              (3)                  136                 (29)
                                                        ----           -----                  ----               -----
Total                                                   $460           $(169)                 $588               $(174)
                                                        ====           =====                  ====               =====
</TABLE>


     Amortization  expense related to intangible assets,  excluding goodwill for
     both the second quarter of 2002 and 2001, was $14 million and for the first
     six months of 2002 and 2001 was $26 million and $27 million,  respectively.
     The  estimated  percentage  of the December 31, 2001 net PVFP balance to be
     amortized over each of the next five years follows:

            2002 . . . . . . . . . . . . . . . . .    10.1%
            2003 . . . . . . . . . . . . . . . . .    10.1%
            2004 . . . . . . . . . . . . . . . . .     9.7%
            2005 . . . . . . . . . . . . . . . . .     9.2%
            2006 . . . . . . . . . . . . . . . . .     7.6%


     Amortization  expense  for  PVFP in  future  periods  will be  affected  by
     acquisitions,  realized capital gains/losses or other factors affecting the
     ultimate  amount of gross profits  realized from certain lines of business.
     Similarly, future amortization expense for other intangibles will depend on
     acquisition activity and other business transactions.

     The only change to recorded  goodwill during the period ended June 29, 2002
     was an addition of $104 million,  representing  amounts  reclassified  from
     other  intangible  assets as of the January 1, 2002  adoption  date of SFAS
     142.

                                       5
<PAGE>

Item 1.  Financial Statements (Continued).


                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

        Notes to Condensed, Consolidated Financial Statements (Continued)


4.   At  January   1, 2001,  the   Company   adopted  SFAS 133,  Accounting  for
     Derivative Instruments and Hedging Activities,  as amended. Under SFAS 133,
     all  derivative  instruments  are  recognized in the statement of financial
     position at their fair  values.  The  cumulative  effect of  adopting  this
     standard was a one-time  reduction of net earnings in the first  quarter of
     2001 of $11  million  and  comprised  a portion of the effect of marking to
     market options and currency contracts used for hedging.

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

                                                                           Three months ended
                                                                   -------------------------------------
     (In millions)                                                 June 29, 2002           June 30, 2001
                                                                   -------------           -------------

<S>                                                                    <C>                      <C>
     Net earnings (loss)                                               $(217)                   $126
     Net unrealized gains (losses) on investment securities              186                    (173)
     Foreign currency translation adjustments                            130                     (33)
     Derivatives qualifying as hedges-net changes in value                 8                      (8)
                                                                       -----                    ----
     Total                                                             $ 107                    $(88)
                                                                       =====                    ====
</TABLE>

<TABLE>
<CAPTION>
                                                                            Six months ended
                                                                   -------------------------------------
     (In millions)                                                 June 29, 2002           June 30, 2001
                                                                   -------------           -------------

<S>                                                                    <C>                      <C>
     Net earnings (loss)                                               $(132)                   $197
     Net unrealized gains (losses) on investment securities               77                      (1)
     Foreign currency translation adjustments                            125                      40
     Derivatives qualifying as hedges-net changes in value                13                      (8)
                                                                       -----                    ----
     Total                                                             $  83                    $228
                                                                       =====                    ====
</TABLE>


6.   The Company's operating segment activity is summarized as follows:
<TABLE>
<CAPTION>
                                                                            Three months ended
                                                                   -------------------------------------
     (In millions)                                                 June 29, 2002           June 30, 2001
                                                                   -------------           -------------

<S>                                                                   <C>                      <C>
     Revenues
     Property/Casualty                                                $1,433                   $2,037
     Life                                                                597                      484
                                                                      ------                   ------
     Total revenues                                                   $2,030                   $2,521
                                                                      ======                   ======

     Earnings (loss) before income taxes and cumulative
        effect of change in accounting principle (1)
     Property/Casualty                                                $ (349)                  $  147
     Life                                                                 12                       55
                                                                      ------                   ------
     Total earnings (loss) before income taxes and cumulative
        effect of change in accounting principle                      $ (337)                  $  202
                                                                      ======                   ======
</TABLE>
     (1) Amounts for 2001 have been  adjusted to exclude  goodwill  amortization
         expense for consistent comparative purposes.

                                       6

<PAGE>

Item 1.  Financial Statements (Continued).


                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

        Notes to Condensed, Consolidated Financial Statements (Continued)

6.   (continued)
<TABLE>
<CAPTION>
                                                                             Six months ended
                                                                   -------------------------------------
     (In millions)                                                 June 29, 2002           June 30, 2001
                                                                   -------------           -------------
<S>                                                                    <C>                     <C>
     Revenues
     Property/Casualty                                                 $3,143                  $3,828
     Life                                                               1,244                   1,130
                                                                       ------                  ------
     Total revenues                                                    $4,387                  $4,958
                                                                       ======                  ======

     Earnings (loss) before income taxes and cumulative
        effect of change in accounting principle (1)
     Property/Casualty                                                 $ (283)                 $  177
     Life                                                                  57                     152
                                                                       ------                  ------
     Total earnings (loss) before income taxes and cumulative
         effect of change in accounting principle                      $ (226)                 $  329
                                                                       ======                  ======
</TABLE>

     (1) Amounts for 2001 have been  adjusted to exclude  goodwill  amortization
         expense for consistent comparative purposes.


                                       7




<PAGE>

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

SECOND QUARTER OF 2002 COMPARED WITH SECOND QUARTER OF 2001

Overview

GE  Global  Insurance  incurred  a loss  before  cumulative  effect of change in
accounting  principle  (discussed  in note 4 of this 10Q report) of $217 million
for the second  quarter of 2002, as compared to earnings of $126 million for the
comparable period in 2001. The significant decrease in reported profitability is
primarily  attributable  to an  approximately  $550 million  pre-tax charge made
during the period to reflect  identified  adverse  development  related to prior
year  loss  events.  Due to  the  impacts  of  existing  retrocession  coverages
purchased  by the  Company,  the  recording  of this  adverse  development  both
decreased  premium revenues  (principally due to higher levels of required ceded
premiums) and increased  incurred  claims and claim  expenses.  Decreases in net
investment  income  (including  net  realized  gains on  investments)  and other
revenues  were  largely  offset by (1)  improved  current  quarter  underwriting
results  within the property and casualty  insurance/reinsurance  segment due to
the recent  hardening  price  environment  and the  absence  of any  significant
catastrophic  events occurring during the period and (2) the impact of SFAS 142,
which resulted in the  amortization  of goodwill  ceasing  effective  January 1,
2002.

The   Company's   two   business   segments   are  (1)   property  and  casualty
insurance/reinsurance and (2) life reinsurance. Business is conducted throughout
the world  utilizing  the  Company's  network  of local  offices.  Although  the
movement in certain foreign  currency  exchange rates during 2002 and 2001 had a
slight  impact on the  individual  revenue and expense  categories,  the overall
impact on net earnings was not  significant.  The  Company's  operating  segment
activity is summarized as follows:
<TABLE>
<CAPTION>

                                                                           Second quarter ended
                                                                   -----------------------------------
(In millions)                                                      June 29, 2002         June 30, 2001
                                                                   -------------         -------------

<S>                                                                    <C>                   <C>
Revenues
Property/Casualty                                                      $1,433                $2,037
Life                                                                      597                   484
                                                                       ------                ------
Total revenues                                                         $2,030                $2,521
                                                                       ======                ======

Earnings (loss) before income taxes and cumulative
   effect of change in accounting principle (1)
Property/Casualty                                                      $ (349)               $  147
Life                                                                       12                    55
                                                                       ------                ------
Total earnings (loss) before income taxes and cumulative
   effect of change in accounting principle                            $ (337)               $  202
                                                                       ======                ======
</TABLE>
(1) Amounts for 2001 have been adjusted to exclude goodwill amortization expense
for consistent comparative purposes.


Typically,    the   underwriting    performance   of   property   and   casualty
insurance/reinsurance  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 second quarter of 2002, the property
and casualty  combined ratio was 142.1%,  compared to 112.3% for the same period
in 2001.  The higher  combined  ratio in the second quarter of 2002 is primarily
attributable  to the  significant  charge taken during the period for identified
adverse  development  related  to prior  year loss  events,  somewhat  offset by
improved  current year  underwriting  results due to the recent  hardening price
environment and the absence of any  significant  catastrophic  events  occurring
during the period.  Earnings before income taxes and cumulative effect of change
in accounting  principle  from property and casualty  operations  decreased $496
million  for the  second  quarter  2002,  primarily  attributable  to the higher
combined ratio in the second quarter of 2002 as compared with the same period in
2001.

                                       8

<PAGE>

Item 2.  Management's Discussion and Analysis of Results of Operations (Cont'd).

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 June 29, 2002,  the
life  operations  generated  revenues  and  earnings  before  income  taxes  and
cumulative  effect of change in  accounting  principle  of $597  million and $12
million,  respectively,  compared to $484 million and $55 million, respectively,
for the same period in 2001.  While the second  quarter 2002 revenues  increased
$113  million or 23% as compared to the same period in 2001,  reported  earnings
before income taxes and cumulative  effect of change in accounting  principle of
the life segment  decreased $43 million or 78% as compared to the same period in
2001. This decreased  profitability is primarily  attributable to (1) a decrease
in net realized  gains on  investments,  (2) an increase in net borrowing  costs
resulting  from  currency and interest  rate changes and (3) a decrease in other
revenues  principally due to  non-recurring  income generated in 2001 related to
the commutation of certain single-premium bond business.

Operating Results

Net premiums written and net premiums earned decreased $325 million (or 17%) and
$281 million (or 14%),  respectively  for the second quarter of 2002 as compared
to the  second  quarter  of 2001.  This  decrease  is  primarily  attributed  to
increased levels of ceded premiums  associated with adverse  development related
to prior year loss events identified in the period.  In general,  second quarter
2002 premiums increased,  reflecting the combination of recent hardening pricing
within the overall  property and casualty  insurance/reinsurance  industry and a
focus on growth within certain niche markets.  However, this increase in new and
renewal  premiums  was  largely  offset by the  impact of the  decision  to exit
certain lines of business and customer relationships as part of a reunderwriting
initiative undertaken during 2001 and 2000.

Net investment income decreased $18 million or 6% for the second quarter of 2002
as compared to the second quarter of 2001,  primarily  attributable to the lower
interest rate environment in the U.S.

Net realized  gains on  investments  decreased $59 million or 77% for the second
quarter  of  2002  as  compared  to  the  second  quarter  of  2001,   primarily
attributable  to  fewer  sales of  investments  reflecting  gains in the  second
quarter of 2002 as compared to the same period in 2001  coupled  with the impact
of a lower interest rate environment.

Other  revenues  decreased $133 million or 86% for the second quarter of 2002 as
compared  to the  second  quarter  of 2001,  primarily  attributable  to certain
non-recurring  revenues in 2001 related to the  favorable  resolution  of issues
involving a recent acquisition.

Claims,  claim expenses and policy benefits  increased $44 million or 3% for the
second quarter of 2002 as compared to the second quarter of 2001.  This increase
is primarily  attributable to the adverse development related to prior year loss
events identified in the second quarter of 2002, somewhat offset by a lower loss
ratio  applicable  to the  current  underwriting  year as a result of the recent
hardening pricing within the overall property and casualty insurance/reinsurance
industry.  The Company has reached its  purchased  limit of coverage on the 1999
aggregate  retrocession  program  and is  approaching  its  purchased  limit  of
coverage for the 2000 program.

Insurance  acquisition  costs decreased $11 million or 2% for the second quarter
of 2002 as compared to the second quarter of 2001, primarily attributable to the
reduction in net premiums earned discussed above.

Other operating costs and expenses (including  amortization of goodwill) for the
second quarter of 2002 remained relatively in line with the comparable period in
2001.  Absent the goodwill  amortization  expense in the second quarter of 2001,
other  operating  costs and expenses would have increased $16 million or 10% for
the second quarter of 2002,  primarily  attributable to higher general operating
and administrative expense levels.
                                       9

<PAGE>

Item 2.  Management's Discussion and Analysis of Results of Operations (Cont'd).

Provision for income taxes was a benefit of $120 million for the second  quarter
of 2002 (an effective tax benefit rate of 35.6%),  compared to an expense of $56
million for the second  quarter of 2001 (an  effective  tax rate of 30.8%).  The
higher effective tax rate in the second quarter of 2002 results principally from
the impact of tax-exempt  investment  income.  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),  while in a
pre-tax income quarter such as 2001, tax-exempt income reduces otherwise taxable
income (resulting in a lower effective tax rate).

FIRST HALF OF 2002 COMPARED WITH FIRST HALF OF 2001

Overview

GE  Global  Insurance  incurred  a loss  before  cumulative  effect of change in
accounting  principle  (discussed  in note 4 of this 10Q report) of $132 million
for the first six months of 2002,  as compared  to earnings of $208  million for
the   comparable   period  in  2001.  The   significant   decrease  in  reported
profitability is primarily attributable to an approximately $600 million pre-tax
charge made during the period to reflect identified adverse  development related
to prior year loss events. Due to the impacts of existing retrocession coverages
purchased  by the  Company,  the  recording  of this  adverse  development  both
decreased  premium revenues  (principally due to higher levels of required ceded
premiums) and increased  incurred  claims and claim  expenses.  Decreases in net
investment  income  (including  net  realized  gains on  investments)  and other
revenues were largely offset by (1) improved current year  underwriting  results
within the property and casualty insurance/reinsurance segment due to the recent
hardening  price  environment  and the absence of any  significant  catastrophic
events  occurring  during  the  period  and (2) the  impact of SFAS  142,  which
resulted in the amortization of goodwill ceasing effective January 1, 2002.

The   Company's   two   business   segments   are  (1)   property  and  casualty
insurance/reinsurance and (2) life reinsurance. Business is conducted throughout
the world  utilizing  the  Company's  network  of local  offices.  Although  the
movement in certain foreign  currency  exchange rates during 2002 and 2001 had a
slight  impact on the  individual  revenue and expense  categories,  the overall
impact on net earnings was not  significant.  The  Company's  operating  segment
activity is summarized as follows:
<TABLE>
<CAPTION>

                                                                            Six months ended
                                                                   -----------------------------------
(In millions)                                                      June 29, 2002         June 30, 2001
                                                                   -------------         -------------
<S>                                                                    <C>                   <C>
Revenues
Property/Casualty                                                      $3,143                $3,828
Life                                                                    1,244                 1,130
                                                                       ------                ------
Total revenues                                                         $4,387                $4,958
                                                                       ======                ======

Earnings (loss) before income taxes and cumulative effect
   of change in accounting principles (1)
Property/Casualty                                                      $ (283)               $  177
Life                                                                       57                   152
                                                                       ------                ------
Total earnings (loss) before income taxes and cumulative
  effect of change in accounting principles                            $ (226)               $  329
                                                                       ======                ======
</TABLE>
(1) Amounts for 2001 have been adjusted to exclude goodwill amortization expense
for consistent comparative purposes.


Typically,    the   underwriting    performance   of   property   and   casualty
insurance/reinsurance  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 2002,  the
property and casualty combined ratio was 123.6%, compared to 112.9% for the same
period in 2001.

                                       10
<PAGE>

Item 2.  Management's Discussion and Analysis of Results of Operations (Cont'd).

The higher  combined ratio in 2002 is primarily  attributable to the significant
charge taken during the period for  identified  adverse  development  related to
prior year loss events,  somewhat offset by improved  current year  underwriting
results due to the recent  hardening  price  environment  and the absence of any
significant  catastrophic  events occurring  during the period.  Earnings before
income  taxes and  cumulative  effect of change  in  accounting  principle  from
property and casualty operations  decreased $460 million in the first six months
of 2002, primarily attributable to the higher combined ratio in 2002 as compared
with 2001.

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 six months of 2002, the life
operations  generated  revenues and earnings  before income taxes and cumulative
effect of change in  accounting  principle  of $1,244  million and $57  million,
respectively, compared to $1,130 million and $152 million, respectively, for the
same  period in 2001.  While  2002  revenues  increased  $114  million or 10% as
compared to 2001, reported earnings before income taxes and cumulative effect of
change in accounting  principle of the life segment decreased $95 million or 63%
as compared to 2001. This decreased  profitability is primarily  attributable to
(1) a decrease  in net  realized  gains on  investments,  (2) an increase in net
borrowing  costs  resulting  from  currency and interest  rate changes and (3) a
decrease in other revenues  principally due to non-recurring income generated in
2001 related to the commutation of certain single-premium bond business.

Operating Results

Net premiums  written and net premiums earned decreased $308 million (or 8%) and
$301  million  (also 8%),  respectively  in 2002.  This  decrease  is  primarily
attributed  to  increased  levels  of ceded  premiums  associated  with  adverse
development  related to prior year loss events  identified  in 2002. In general,
2002 premiums increased,  reflecting the combination of recent hardening pricing
within the overall  property and casualty  insurance/reinsurance  industry and a
focus on growth within certain niche markets.  However, this increase in new and
renewal  premiums  was  largely  offset by the  impact of the  decision  to exit
certain lines of business and customer relationships as part of a reunderwriting
initiative undertaken during 2001 and 2000.

Net  investment  income  decreased  $63  million  or  10%  in  2002,   primarily
attributable  to the lower interest rate  environment in the U.S. in the current
year as compared with 2001.

Net  realized  gains  on  investments  decreased  $83  million  or 59% in  2002,
primarily attributable to fewer sales of investments reflecting gains in 2002 as
compared to 2001 coupled with the impact of a lower interest rate environment.

Other revenues decreased $124 million or 62% in 2002, primarily  attributable to
certain  non-recurring  revenues in 2001 related to the favorable  resolution of
issues involving a recent acquisition.

Claims,  claim expenses and policy benefits increased $40 million or 1% in 2002.
This increase is primarily  attributable to the adverse  development  related to
prior year loss events identified in 2002, somewhat offset by a lower loss ratio
applicable to the current  underwriting year as a result of the recent hardening
pricing within the overall property and casualty insurance/reinsurance industry.
The Company has reached its  purchased  limit of coverage on the 1999  aggregate
retrocession  program and is approaching its purchased limit of coverage for the
2000 program.

Insurance  acquisition  costs  decreased  $69  million  or 7% in 2002,  which is
generally in line with the decrease in net premiums earned discussed above.

                                       11

<PAGE>

Item 2.  Management's Discussion and Analysis of Results of Operations (Cont'd).

Other  operating  costs  and  expenses  (including   amortization  of  goodwill)
decreased $28 million or 7% in 2002,  primarily  attributable to the termination
of goodwill amortization in 2002 associated with the implementation of SFAS 142.
Absent the goodwill  amortization  expense in 2001,  other  operating  costs and
expenses would have increased $14 million or 4% in 2002, primarily  attributable
to higher interest expense.

Provision for income taxes was a benefit of $94 million for the first six months
of 2002 (an effective tax benefit rate of 41.6%),  compared to an expense of $79
million for the first six months of 2001 (an effective  tax rate of 27.5%).  The
higher  effective  tax  rate in 2002  results  principally  from the  impact  of
tax-exempt investment income. 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),  while in a pre-tax income year such
as 2001,  tax-exempt  income reduces  otherwise  taxable income  (resulting in a
lower effective tax rate).


Forward Looking Statements

This document includes certain  "forward-looking  statements" within the meaning
of the Private  Securities  Litigation  Reform Act of 1995. These statements are
based on management's  current  expectations  and are subject to uncertainty and
changes  in  circumstances.  Actual  results  may differ  materially  from these
expectations due to changes in global economic, business, competitive market and
regulatory factors.



                                       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 99.1.  Certification Pursuant To 18 U.S.C. Section 1350, As Adopted
                    Pursuant To Section 906 Of The Sarbanes-Oxley Act Of 2002.

     Exhibit 99.2.  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.

     None.

                                       16

<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: July 31, 2002            By:           /s/ MARC A. MEICHES
                                ------------------------------------------------
                                                Marc A. Meiches
                               Senior Vice President and Chief Financial Officer
                                         (Principal Financial Officer)



Date:  July 31, 2002           By:          /s/ WILLIAM J. STEILEN
                                ------------------------------------------------
                                              William J. Steilen
                                         Vice President and Controller
                                         (Principal Accounting Officer)


                                       17
<PAGE>


                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES


                                Index to Exhibits



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

   12         Computation of ratio of earnings to fixed charges..........    13

   99.1       Certification Pursuant To 18 U.S.C. Section 1350, As
              Adopted Pursuant To Section 906 Of The Sarbanes-Oxley
              Act Of 2002................................................    14

   99.2       Certification Pursuant To 18 U.S.C. Section 1350, As
              Adopted Pursuant To Section 906 Of The Sarbanes-Oxley
              Act Of 2002................................................    15







                                       18