<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 September 26, 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 October 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.................................................6

Exhibit 12.         Computation of Ratio of Earnings to Fixed Charges.............................................................9

   
PART II - OTHER INFORMATION.

Item 6.             Exhibits and Reports on Form 8-K.............................................................................10

Signatures.         .............................................................................................................11

Index to Exhibits.  .............................................................................................................12
</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                                  Nine months ended
                                               ---------------------------------                   ---------------------------------
(In millions)                                  Sept. 26, 1998     Sept. 27, 1997                   Sept. 26, 1998     Sept. 27, 1997
                                               --------------     --------------                   --------------     --------------
<S>                                                  <C>                <C>                              <C>                <C>    

Revenues
Net premiums written                               $1,398             $1,016                           $4,238             $3,608   
                                                   ======             ======                           ======             ====== 

Net premiums earned                                $1,269             $  996                           $3,910             $3,554
Net investment income                                 250                242                              720                677
Net realized gains on investments                     158                 74                              374                262
Other revenues                                         35                 49                               96                 84
                                                   ------             ------                           ------             ------
Total revenues                                      1,712              1,361                            5,100              4,577
                                                   ------             ------                           ------             ------

Costs and Expenses
Claims, claim expenses and policy benefits            902                729                            2,775              2,663
Insurance acquisition costs                           329                271                              991                823
Other operating costs and expenses                    137                123                              390                360
Minority interest in net earnings of
   consolidated subsidiaries                           21                 20                               64                 62
                                                   ------             ------                           ------             ------
Total costs and expenses                            1,389              1,143                            4,220              3,908
                                                   ------             ------                           ------             ------

Earnings before income taxes                          323                218                              880                669
                                                                              

Provision for income taxes                             95                 51                              251                189
                                                   ------             ------                           ------             ------

Net earnings                                          228                167                              629                480
Dividends on preferred stock                           (2)                (2)                              (6)                (6)
Retained earnings at beginning of period            4,057              3,554                            3,660              3,245
                                                   ------             ------                           ------             ------
                                                                       
Retained earnings at end of period                 $4,283             $3,719                           $4,283             $3,719
                                                   ======             ======                           ======             ======
</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)                                                                               September 26, 1998     December 31, 1997
                                                                                            ------------------     -----------------
                                                                                                (Unaudited)
<S>                                                                                                  <C>                   <C>    

Assets
Investments:
   Fixed maturity securities available-for-sale, at fair value                                    $14,994               $14,816 
   Equity securities, at fair value                                                                 2,457                 2,513
   Other invested assets                                                                            1,046                 1,014
                                                                                                  -------               -------
   Total investments                                                                               18,497                18,343

Cash                                                                                                  328                   269
Premiums receivable                                                                                 2,520                 2,279
Other receivables                                                                                   1,260                 1,189 
Reinsurance recoverables                                                                            3,326                 2,791
Deferred insurance acquisition costs                                                                1,090                   844
Other assets                                                                                        2,075                 1,817
                                                                                                  -------               -------

Total assets                                                                                      $29,096               $27,532
                                                                                                  =======               =======

Liabilities and equity
Claims and claim expenses                                                                         $11,475               $10,961 
Accumulated contract values                                                                         2,304                 2,305
Future policy benefits for life and health contracts                                                1,708                 1,604
Unearned premiums                                                                                   1,839                 1,244
Other reinsurance balances                                                                          1,229                 1,125
Other liabilities                                                                                   2,927                 3,186
Long-term borrowings                                                                                  557                   556
                                                                                                  -------               -------
   Total liabilities                                                                               22,039                20,981
                                                                                                  -------               -------

Minority interest in equity of consolidated subsidiaries                                            1,176                 1,177
                                                                                                  -------               -------


Accumulated non-owner changes in equity:
   Unrealized gains on investment securities                                                          703                   746
   Foreign currency translation adjustments                                                          (105)                  (32)
                                                                                                  -------               ------- 
   Total accumulated non-owner changes in equity                                                      598                   714

Common stock                                                                                            5                     5
Preferred stock                                                                                       150                   150 
Paid-in capital                                                                                       845                   845
Retained earnings                                                                                   4,283                 3,660
                                                                                                  -------               -------
   Total stockholder's equity                                                                       5,881                 5,374
                                                                                                  -------               -------

Total liabilities and equity                                                                      $29,096               $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)


                                                                                                       Nine months ended     
                                                                                           -----------------------------------------
(In millions)                                                                              September 26, 1998     September 27, 1997
                                                                                           ------------------     ------------------
<S>                                                                                                 <C>                    <C>   

Cash from operating activities                                                                   $   380                $   494
                                                                                                 -------                -------
 
Cash Flows From Investing Activities
Fixed maturity securities available-for-sale:
   Purchases                                                                                      (3,479)                (4,654)
   Sales                                                                                           2,816                  3,556
   Maturities                                                                                        590                    511
Equity securities:
   Purchases                                                                                      (1,080)                  (940)
   Sales                                                                                           1,206                    794
Net (purchases) sales of short-term investments                                                       81                   (169)
Cash paid for acquisitions and in force
   reinsurance transactions                                                                         (143)                     -
Other investing activities                                                                          (111)                   (57)
                                                                                                 -------                -------
   Cash used for investing activities                                                               (120)                  (959)
                                                                                                 -------                -------

Cash Flows From Financing Activities
Change in contract deposits                                                                         (328)                   505
Net contract accumulation receipts (payments)                                                          6                     (1)
Proceeds from short-term borrowings                                                                  168                      -
Dividends paid                                                                                        (6)                    (6)
                                                                                                 -------                -------
   Cash from (used for) financing activities                                                        (160)                   498
                                                                                                 -------                -------

Effect of exchange rate changes on cash                                                              (41)                   (98)
                                                                                                 -------                -------

Increase (decrease) in cash                                                                           59                    (65)
Cash at beginning of period                                                                          269                    377
                                                                                                 -------                -------
Cash at end of period                                                                            $   328                $   312
                                                                                                 =======                =======
</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 referred to as "the Company"). 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:

         
                                                   Three months ended
                                       -----------------------------------------
    (In millions)                      September 26, 1998     September 27, 1997
                                       ------------------     ------------------

    Net earnings                              $228                   $167
    Unrealized gains (losses) on
       investment securities                  (217)                   128
    Foreign currency translation
       adjustments                             (64)                   (35)
                                              ----                   ----

    Total                                     $(53)                  $260
                                              ====                   ====


                                                   Nine months ended
                                       -----------------------------------------
    (In millions)                      September 26, 1998     September 27, 1997
                                       ------------------     ------------------

    Net earnings                              $629                   $480
    Unrealized gains (losses) on
       investment securities                   (43)                   234
    Foreign currency translation
       adjustments                             (73)                   (80)
                                              ----                   ----

    Total                                     $513                   $634
                                              ====                   ====


                                       4


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


4.  In June 1998, the Financial  Accounting Standards Board issued SFAS No. 133,
    Accounting for Derivative Instruments and Hedging Activities. This Statement
    requires that, upon adoption,  all derivative instruments (including certain
    derivative  instruments  embedded in other  contracts)  be recognized in the
    balance  sheet at fair  value,  and that  changes  in such  fair  values  be
    recognized in earnings unless specific  hedging criteria are met. Changes in
    the values of derivatives  that meet these hedging  criteria will ultimately
    offset  related  earnings  effects of the hedged  items;  effects of certain
    changes in fair value are  recorded in other  comprehensive  income  pending
    recognition  in  earnings.  The Company will not adopt the  Statement  until
    required to do so on January 1, 2000.


5.  On October  15,  1998,  the Company  completed  the  acquisition  of Medical
    Protective Corporation, the oldest medical professional liability insurer of
    physicians and dentists in the United States. The cash consideration of $625
    million was financed by General Electric Capital Corporation, a wholly-owned
    subsidiary of General Electric Company,  via an interim loan agreement.  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.

    On October  27,  1998,  the  Company  completed  the  acquisition  of Kemper
    Reinsurance Company, a property and casualty reinsurance company principally
    doing  business  through  intermediaries.  The  cash  consideration  of $463
    million  was  financed  by  utilizing   existing  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.


                                        5


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


Overview

Net earnings for the first nine months of 1998 was $629 million,  a $149 million
increase over the first nine months of 1997,  reflecting  growth in underwriting
origination volume,  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 nine months of 1998, the P&C combined ratio was 100.0% compared to
105.0% for the same period in 1997. The lower combined ratio primarily  reflects
a general reduction in incurred losses caused by a decline in both the frequency
and  severity  of claims.  Earnings  before  income  taxes  from P&C  operations
increased  $236 million in the first nine 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  nine  months  of  1998,  the life
operations generated revenues and earnings before income taxes of $1,085 million
and $96  million,  respectively,  compared to $1,169  million and $121  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 $630 million or 17% over the first nine 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 $356 million or 10% over the first nine 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.

Net investment  income increased $43 million or 6% over the first nine months of
1997,  primarily   attributable  to  the  continued  growth  in  the  investment
portfolios, partially offset by the impact of foreign currency translation.


                                       6


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


Net realized gains on  investments  increased $112 million or 43% over the first
nine  months  of  1997,  primarily  due  to  restructuring   certain  investment
portfolios and capitalizing on favorable market conditions that existed in 1998.

Other revenues  increased $12 million or 14% over the first nine months of 1997,
primarily   attributable   to  fees  generated  from   investment-related   life
reinsurance products and financial reinsurance transactions.

Claims, claim expenses and policy benefits increased $112 million or 4% over the
first nine months of 1997, which is less than the  corresponding 10% increase in
net premiums  earned  discussed  above.  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 a low  commission  ratio,  coupled  with
favorable loss development in certain P&C product lines.

Insurance  acquisition  costs  increased $168 million or 20% over the first nine
months of 1997, which exceeded the 10% increase in net premiums earned discussed
above primarily due to the change in life reinsurance  product mix toward higher
commission business. In addition, as discussed above, the 1997 period included a
relatively higher proportion of life reinsurance  business which  incorporated a
high loss ratio and a low commission ratio.

Other  operating  costs and expenses  increased $30 million or 8% over the first
nine 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 $251  million for the first nine months of 1998
(an  effective  tax rate of 28.5%),  compared to $189 million for the first nine
months of 1997 (an effective tax rate of 28.3%).  The slightly higher  effective
tax rate primarily  reflects increased taxes on domestic earnings as a result of
less tax-exempt net investment  income due to restructuring  certain  investment
portfolios,  mostly offset by 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 General Electric Company beginning in the fourth quarter of 1997.


Other Matters

Year 2000

The inability of business  processes to continue to function correctly after the
beginning of the Year 2000 could have serious  adverse  effects on companies and
entities  throughout  the world.  The Company has  undertaken a global effort to
identify and mitigate Year 2000 issues in its information systems,  products and
services, facilities and suppliers as well as to assess the extent to which Year
2000  issues  will  impact  its  customers.   A  Year  2000  leader  oversees  a
multi-functional  remediation  project team responsible for applying a Six Sigma
quality  approach in four phases:  (1)  define/measure  - identify and inventory
possible  sources of Year 2000  issues;  (2) analyze - determine  the nature and
extent of Year 2000 issues and develop  project  plans to address  those issues;
(3) improve - execute  project plans and perform a majority of the testing;  and
(4) control - complete  testing,  continue  monitoring  readiness  and  complete
necessary  contingency  plans.  The progress of this program is  monitored,  and
company-wide  reviews with senior management are conducted  monthly.  Management
plans to have  completed the first three phases of the program for a substantial
majority of  mission-critical  systems by the end of 1998 and to have nearly all
significant information systems, products and services, facilities and suppliers
in the control phase of the program by mid-1999.


                                       7


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


The  scope  of the  global  Year  2000  effort  emcompasses  many  thousands  of
applications  and computer  programs;  products  and  services;  facilities  and
facilities-related equipment; suppliers; and, customers. Business operations are
also dependent on the Year 2000 readiness of  infrastructure  suppliers in areas
such as utility,  communications,  transportation  and other  services.  In this
environment,  there  will  likely be  instances  of  failure  that  could  cause
disruptions  in business  processes or that could affect  customers'  ability to
report and pay  amounts  owed to the  Company.  The  likelihood  and  effects of
failures in infrastructure  systems and in the supply chain cannot be estimated.
However,  with respect to operations  under its direct control,  management does
not expect,  in view of its Year 2000  program  efforts,  the  diversity  of its
suppliers  and customers and the  alternative  processes  which can be utilized,
that  occurrences  of Year 2000 failures will have a material  adverse effect on
the financial position, results of operations or liquidity of the Company.

Total Year 2000  remediation  expenditures  are expected to be  approximately $4
million,  of which more than  two-thirds  is  expected to be spent by the end of
1998.  Substantially  all of the remainder is expected to be spent in 1999. Most
of these costs are not likely to be incremental costs, but rather will represent
the redeployment of existing  resources.

The activities  involved in the Year 2000 effort  necessarily  involve estimates
and projections of activities and resources that will be required in the future.
These estimates and projections could change as work progresses.


Subsequent Events

As more  fully  described  in Note 5 of the  Notes  to  Condensed,  Consolidated
Financial  Statements,  on October 15, 1998 and  October 27,  1998,  the Company
completed  the  acquisitions  of  Medical  Protective   Corporation  and  Kemper
Reinsurance Company, respectively.

                                        8


<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.


                                       10


<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:  November 10, 1998    By:             /s/ ROBERT J. DELLINGER             
                               -------------------------------------------------
                                              Robert J. Dellinger
                               Senior Vice President and Chief Financial Officer
                                  (Principal Financial and Accounting Officer)


                                       11


<PAGE>
                     GE GLOBAL INSURANCE HOLDING CORPORATION
                                AND SUBSIDIARIES

                                Index to Exhibits


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

     12      Computation of ratio of earnings to fixed charges................9

     27      Financial Data Schedule (filed electronically only)


                                       12