American Re Corporation stockholders approve acquisition by Munich Re.PRINCETON, NJ--(BUSINESS WIRE)--Nov. 21, 1996--American Re Corporation (NYSE-ARN) announced that its common stockholders voted today to approve and adopt the Agreement and Plan of Merger, dated as of August 13, 1996, pursuant to which American Re will be acquired by and become a wholly-owned subsidiary of Munich Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company. As previously announced, the transaction has received the approval of the necessary regulatory authorities, including the Delaware and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of insurance departments, and the Company expects to close the transaction on Monday, November 25, 1996. American Re, through its wholly-owned subsidiaries, is a direct writer of treaty and facultative reinsurance and related services, and, based on its statutory surplus, is the third largest property and casualty reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . CONTACT: American Re Corporation Thomas H. Walker, Jr., (609) 243-4679 |
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