American Re Announces Appointment of New Senior Management Team to Head Corporate Services.

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--March 26, 2002

American Re-Insurance Company today announced the appointment of a new Senior Management team to direct its eight Corporate Centers, all of which report to Wolfgang Engshuber, who was recently named President of this group.

The new team is listed below:

Anthony J. Kuczinski was named Chief Corporate Resource Officer and President of Munich-American Global Services, American Re's fee income subsidiaries. Prior to this appointment, Mr. Kuczinski served as President of Insurance Company Operations, and before that was Executive Vice President and Chief Financial Officer for Munich-American RiskPartners. He has over 21 years of industry experience, including 13 years with American Re. Mr. Kuczinski is a member of the American Institute of Certified Public Accountants, New York and New Jersey State Societies of Certified Public Accountants and the American Institute for Chartered Property Underwriters. He is a Certified Public Accountant (CPA) and Chartered Property Casualty Underwriter (CPCU).

George T. O'Shaughnessy, Jr. remains Chief Financial Officer and Executive Vice President of American Re-Insurance Company, a position he has held since 1998. After joining American Re in 1988, Mr. O'Shaughnessy held several positions in the company's Financial Services unit, including Corporate Controller. Previously, he worked at Deloitte, Haskins & Sells. He has 21 years of financial services and insurance industry experience, and is a Certified Public Accountant (CPA).

John W. Rodgers, Chief Claims Officer, will continue to head American Re's Claims unit. Mr. Rodgers joined American Re in 1989 and held various responsibilities in the Claims Division before being appointed to head up the division in 1999. He has 28 years of experience in insurance and reinsurance claims management, holds an Associate in Risk Management (ARM) and an Associate in Reinsurance (ARe), and is a Chartered Property Casualty Underwriter (CPCU).

Philip Roeper will continue to serve as Chief Information Officer, responsible for managing the company's information technology group that supports American Re's business processes and activities. Mr. Roeper joined American Re in 1996 as Vice President of Network, Infrastructure and Operations, and was named CIO in 1999. He has over 20 years of experience in management and technical positions, and is an Associate Member of the Institute of Electrical Engineers (AMIEE).

Melissa A. Salton was named Chief Results Monitoring & Reporting Officer, and will continue to be responsible for American Re's results monitoring and reporting, which includes linking business planning, underwriting and ongoing analysis of results. Ms. Salton has been with American Re for 13 years, holding various positions with its Risk Evaluation and Management unit, most recently heading the Results Monitoring department. She has over 20 years of insurance industry experience, and is a Fellow of the Casualty Actuarial Society (FCAS) and a member of the American Academy of Actuaries.

Eric M. Simpson has been appointed Chief Planning Officer, responsible for American Re's strategic planning and analysis, operating group financial management, client capital management analysis and strategic investments. Previously, Mr. Simpson was Chief Financial Officer of American Re's largest operating unit, Domestic Insurance Company Operations. Prior to joining American Re in 2001, he was with the A.M. Best Company, where he was a member of Best's Board of Directors and Senior Vice President of Best's Property/Casualty Ratings Division. Mr. Simpson has 20 years of industry experience, and is a Certified Public Accountant (CPA).

David Spiegler will continue to serve as Chief Actuary for American Re, responsible for all actuarial and risk evaluation activities company-wide. Since joining American Re in 1987, Mr. Spiegler has held various actuarial and underwriting positions within the company. He was appointed Chief Actuary of American Re in 2000. Mr. Spiegler has 20 years of insurance industry experience, and is a Fellow of the Casualty Actuarial Society (FCAS) and a member of the American Academy of Actuaries.

Robin H. Willcox was appointed General Counsel and Corporate Secretary. Ms. Willcox joined American Re in 1988, and has held several positions in American Re's Law Division, including her most recent position as Associate General Counsel - Reinsurance Operations, and Assistant Secretary. Ms. Willcox has been practicing law for 25 years, 16 of which have been within the insurance and reinsurance industry. She is a member of the bar of New York and New Jersey, the International Bar Association and the American Bar Association.

American Re, a member of the Munich Re Group, is one of the leading writers of reinsurance in the United States. Through its subsidiaries, it provides treaty and facultative reinsurance, insurance, and related services to insurance companies, other large businesses, government agencies, pools and other self-insurers. It has received the highest insurance ratings from A.M. Best Company, Moody's and Standard & Poor's. The Munich Re Group, whose business also includes primary insurance and asset management, has a preeminent position in the global reinsurance industry. It is headed by Munich Reinsurance Company of Munich, Germany, and includes reinsurance subsidiaries, branches, service companies and liaison offices in more than 60 locations worldwide, serving insurers in more than 150 countries.