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ZURICH REINSURANCE CENTRE ANNOUNCES SENIOR VICE PRESIDENT APPOINTMENTS

 NEW YORK, June 21 /PRNewswire/ -- Zurich Reinsurance Centre, Inc. announced today that the following people have been appointed Senior Vice President:
 -- Melinda Hamilton, S.V.P. - Underwriting
 -- Isaac Mashitz, S.V.P. and Chief Actuary
 -- Mark D. Mosca, S.V.P. and Chief Underwriting Officer
 -- P. Britt Newhouse, S.V.P. - Business Development
 -- Peter R. Porrino, S.V.P. and Chief Financial Officer
 -- John D. Shuck, S.V.P. and Chief Administrative Officer
 Attached are their individual biographies.
 Zurich Reinsurance Centre Holdings, Inc. is a newly-formed company whose operating subsidiary Zurich Reinsurance Centre, Inc. (ZRC) is the principle underwriting affiliate of the Zurich Insurance Company (Switzerland) and Centre Reinsurance Companies (Bermuda) in the North American market for brokered traditional property and casualty reinsurance. ZRC is 57 percent owned by the Zurich Insurance Company, 9 percent owned by Fund American Enterprises, Inc. whose chairman is John J. Byrne and 34 percent publicly held.
 ZURICH REINSURANCE CENTRE, INC.
 Senior Vice President Appointments
 Melinda Hamilton, S.V.P.- Underwriting, will underwrite policies involving medical malpractice, professional liability, errors and omissions, and Directors and Officers liability on behalf of ZRC. Ms. Hamilton came to ZRC from General Reinsurance Corporation where she started her insurance career in 1978 serving as an Individual Risk Underwriter and Assistant Secretary. In 1980 she left briefly to work for Marsh and McLennan in Bermuda as an Assistant Vice President. She returned to General Reinsurance Corporation in 1982 where she was promoted to Assistant Vice President and then to Second Vice President in 1984. In 1986 she was named Vice President, Underwriting Service Division and assigned to manage General Reinsurance's Home Office Underwriting effort for non-traditional lines of insurance. She earned her B.A. in English at Williams College and is a member of Phi Beta Kappa.
 Isaac Mashitz, S.V.P. and Chief Actuary, will be responsible for all actuarial activities of the company including pricing and reserving. Since 1986, Mr. Mashitz worked for North American Reinsurance Company, most recently as a Vice President and Actuary of Pricing. He is immediate past president of Casualty Actuaries in Reinsurance and is Chairman of the Casualty Actuarial Society's Committee on the Theory of Risk and an Adjunct Professor of Statistics at New York University's Graduate School of Business Administration. He holds a B.A. from Brooklyn College and a Ph.D in Mathematics from the Courant Institute of New York University. Additionally, he is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.
 Mark D. Mosca, S.V.P. and Chief Underwriting Officer, will oversee all underwriting activities for ZRC. Since 1986, Mr. Mosca worked for NAC Reinsurance Corporation, most recently as a Vice President and Manager of the Treaty Division. Before working for NAC Re, he was a Vice President at General Reinsurance. He holds an A.B. from Harvard University.
 P. Britt Newhouse, S.V.P.- Business Development, will focus his efforts on the identification of new business opportunities for ZRC. For the past thirteen years, he was employed by Guy Carpenter & Company, Inc., most recently as Senior Vice President responsible for designing and placing casualty treaty reinsurance programs. Mr. Newhouse holds a B.A. from Windham College.
 Peter R. Porrino, S.V.P., Chief Financial Officer and Treasurer, formerly worked for Ernst & Young as a partner specializing in the insurance and reinsurance industries, was a member of Ernst & Young's Insurance Industry Accounting and Auditing Committee and served on the Insurance Task Force of the American Institute of Certified Public Accountants (AICPA). He is a member of the AICPA and the New York Society of Certified Public Accountants. Mr. Porrino holds a B.B.A. from Pace University and an M.B.A. from New York University.
 John D. Shuck, S.V.P. and Chief Administrative Officer, came to ZRC from North American Reinsurance Corporation where he held the position of Executive Vice President. Previously, Mr. Shuck was a banking and insurance consultant for McKinsey & Company, Inc. having worked in New York and Scandinavian. Mr. Shuck also practiced law with the New York firm of Simpson Thacher & Bartlett. He holds a B.A. from Amherst College and received both his M.B.A. and J.D. from the University of Chicago.
 -0- 6/21/93
 /CONTACT: Elizabeth A. Richardson of Zurich Reinsurance Centre, Inc., 212-285-1500; or Andrew Baer or Tracey Stearns of Kekst and Company, 212-593-2655, for ZRC/


CO: Zurich Reinsurance Centre, Inc. ST: New York IN: INS SU: PER

WB-MG -- NY074 -- 4161 06/21/93 16:10 EDT
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Date:Jun 21, 1993
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