APIW Honors Elizabeth A. Monrad As 1999 Insurance Woman of the Year.

NEW YORK--(BUSINESS WIRE)--April 16, 1999--

Elizabeth A. Monrad (Betsy) has been named Insurance Woman of the Year by the APIW. Ms. Monrad is Senior Vice President, the Chief Financial Officer and member of the Executive Committee of General Reinsurance Corporation, the largest professional reinsurance operation in the United States. A cocktail reception and award ceremony will be held in her honor on Tuesday, June 15, 1999 at the Continental Club, 180 Maiden Lane, 41st Floor, New York, New York, from 5:30 p.m. - 7:30 p.m. Ronald E. Ferguson, Chairman and Chief Executive Officer of General Re Corporation, will make the presentation. Commenting on this award, Mr. Ferguson said, "Betsy has been an important part of General Re's success since she joined the Company in 1992. It is gratifying to see her contributions to General Re and the industry recognized with this award."

APIW's annual academic scholarship awards, from the Lana James Memorial Scholarship, will also be presented at the event to The College of Insurance, the Katie Insurance School of Illinois State University and the Insurance Educational Association.

The annual APIW Insurance Woman of the Year award, first presented in 1976, recognizes a woman who has achieved prominence in the insurance industry. The award recognizes Ms. Monrad's outstanding achievements and leadership within the industry, as well as her commitment to advancement of women.

Among her responsibilities, Ms. Monrad serves as Corporate Treasurer of General Re Corporation and Chief Financial Officer of the Group's North American property/casualty operations, and Chairman of General Re Corporate Finance, General Re Funding and General Re Investment Holding, three companies within General Re Financial Products' operations. She also serves on the Board of Directors of several companies within the General Re Group.

Since joining General Re in 1992, Betsy has participated in General Re's merger activity in a variety of capacities, including due diligence efforts in General Re's 1994 acquisition of a controlling interest in Cologne Re, its 1995 acquisition of New England Asset Management, its 1996 acquisition of National Re, and its 1998 acquisition of DP Mann Holdings Limited. She was also on the implementation team involved in General Re's merger with Berkshire Hathaway in 1998.

Betsy resides in New Canaan, CT with her husband, Eric Shuman, who is Chief Financial Officer of Thomson Newspapers. They have a twelve-year old son and ten-year old daughter. As a working mother, Betsy knows the pressures of balancing work/family life and has been supportive of women with similar

pressures and competing responsibilities at work and at home.

Ms. Monrad began her career in Boston with the public accounting firm of Coopers & Lybrand, where she became a partner after nine years with the firm. There she specialized in financial services, high technology and higher education clients. She graduated with Honors from Wellesley College and has a Master's degree in Management from the Sloan School, Massachusetts Institute of Technology.

Betsy served as an Instructor of Auditing at Boston University in 1987, while working at Coopers & Lybrand. Ms. Monrad is co-author of Post-retirement Medical Benefits for Colleges and Universities, published by NACUBO, and Three Keys to Venture Capital Financing, published by Coopers & Lybrand.

Ms. Monrad is Chairman of the Accounting Committee of the Reinsurance Association of America, serves as a member of the Accounting Committee of the NAII, is a member of Wellesley College's Business Leadership Council and the American Institute of Certified Public Accountants. She is past Treasurer of Beaver Country Day School and served on its Board of Trustees. She was also previously a member of the Corporation of the Newton-Wellesley Hospital in Massachusetts. Beyond work and family, Betsy finds time for portrait painting, squash and tennis and teaches fourth grade Sunday school at St. Mark's Church in New Canaan, CT.

Diane Askwyth, President of APIW, comments: "In the face of new challenges created by the convergence of the insurance and financial services industries, APIW is particularly pleased to recognize Betsy Monrad as a financial executive with significant and numerous professional achievements within the insurance industry. Her career record reflects outstanding contributions, leadership and commitment to the business. Betsy is an excellent role model for insurance professionals facing the challenges of a rapidly changing industry."

Founded in 1976, the APIW is the leading organization dedicated to advancement of professional insurance women and to the recognition of their contributions to the industry. The APIW sponsors varied programs that encourage professional development and provide opportunities for members to hone leadership skills. The group has over 275 members who are successful professionals at different stages of their careers - from middle management to senior executive - who have a cross-section of industry skills and knowledge to share. The APIW is based in New York City, with networks in Chicago and San Francisco. For more information about APIW, call Dorota Bussey at 203-968-1548 or visit our web site at www.apiw.org