American Eagle Group, Inc. announces election of new director.

DALLAS--(BUSINESS WIRE)--Feb. 20, 1995--American Eagle Group, Inc. announced today the election of Richard M. Kurz as a Director of the Company.

Mr. Kurz has been Senior Vice President and Chief Financial Officer of American Eagle since December 1993. Mr. Kurz has over 25 years experience in the property and casualty insurance industry. He held a number of senior positions at CIGNA Corporation, including Vice President and Chief Accounting Officer of its Property and Casualty Group and Chief Financial Officer of CIGNA Worldwide, Inc. Mr. Kurz also held the position of Chief Financial Officer of BDP International, Inc., a custom house broker and freight forwarder.

Mr. Kurz fills the vacancy left by the resignation of Don D. Hutson, the President and Chief Operating Officer of TIG Holdings, Inc. Mr. Hutson resigned because his responsibilities to TIG Holdings, Inc. had made it increasingly difficult to fairly discharge his obligations to both companies.

The common stock of American Eagle Group, Inc. trades on the New York Stock Exchange under the symbol "FLI."

American Eagle Group, Inc. is an insurance holding company that, through its subsidiaries, markets and underwrites specialized property and casualty coverages in selected niche markets. These markets include general aviation, local and intermediate haul trucking, franchised new auto dealers, selected artisan contractors and private yachts. The Company's business is organized in three divisions: the Aviation Division, headquartered in Dallas, Texas; the Property & Casualty Division, headquartered in Sacramento, California; and the Marine Division, headquartered in Baltimore, Maryland.

CONTACT: American Eagle Group, Inc., Dallas

M. Philip Guthrie, 214/448-1460

Richard M. Kurz, 214/448-1477