American Re Appoints Eric Simpson Senior Vice President.

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--June 19, 2001

American Re announced that Eric M. Simpson has been appointed Senior Vice President and Chief Financial Officer of its largest division, Domestic Insurance Company Operations (DICO), effective July 16, 2001. Mr. Simpson will join American Re from the A.M. Best Company in Oldwick, New Jersey, where he has been a member of Best's Board of Directors, and Senior Vice President of Best's Property/Casualty Ratings Division since 1997.

Mr. Simpson will oversee DICO's strategic and financial management activities, and will have overall responsibility for its financial reinsurance activities. He will also assist in marketing financially oriented products and services to the Company's national, regional and specialty clients.

Albert Beer, President of DICO, said, "Eric Simpson has exceptional insight into the many issues confronting the insurance industry today and extensive experience working with insurance CEOs on their financial and strategic issues. We are confident that Mr. Simpson will further bolster DICO's market position and presence. We look forward to his joining American Re, and sharing his unique experience and expertise with our clients that increasingly seek financially-oriented risk solutions."

As the head of Best's Property/Casualty unit, Mr. Simpson directed several teams of analysts that monitor and evaluate the financial strength of 3,200 domestic property/casualty insurance companies and 125 global captive insurers. He also acted as the senior P/C spokesperson on Best's rating process and the general health of the insurance industry, and wrote numerous industry articles for Best's publications.

Prior to joining A.M. Best in 1991, Mr. Simpson worked for Crum and Forster Corporation, responsible for GAAP and Statutory financial analysis, and M&A Project work. Mr. Simpson started his career as an Audit Manager with KPMG, specializing in auditing P/C insurance companies. He is a graduate of Bucknell University with a BA in Accounting, and also is a CPA.

American Re's Domestic Insurance Company Operations works directly with U.S.-based P/C insurance companies to provide reinsurance solutions. Solutions include facultative, treaty and program reinsurance: pro rata, excess and aggregate; traditional and financial, covering multiple lines and sub-lines of insurance.

American Re, a member of the Munich Re Group, is one of the leading writers of reinsurance in the United States. Through American Re-Insurance Company and its other subsidiaries, it provides treaty and facultative reinsurance, insurance and related services to insurance companies, other large businesses, government agencies, pools and other self-insurers, in the U.S. and abroad. 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.