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SCOR U.S. IN NEGOTIATIONS TO ACQUIRE CONSTITUTION REINSURANCE CORPORATION

 SCOR U.S. IN NEGOTIATIONS TO ACQUIRE
 CONSTITUTION REINSURANCE CORPORATION
 NEW YORK, March 27 /PRNewswire/ -- SCOR U.S. Corporation (NYSE: SUR) confirmed today that it is engaged in negotiations with Crum & Forster, Inc. regarding the possible purchase by SCOR U.S. of Constitution Reinsurance Corporation, a property and casualty reinsurance company owned by Crum & Forster, Inc. SCOR U.S. emphasized, however, that no agreement as to the terms and conditions of the proposed transaction has been reached and no assurances exist that the present negotiations will result in any transaction being consummated. Moreover, any acquisition of Constitution would be contingent on the receipt of regulatory approvals, including that of the New York State Insurance Department, as well as of the required corporate approvals by the respective parties.
 Crum & Forster, Inc. is the property/casualty insurance holding company owned by Xerox Financial Services, Inc.
 SCOR U.S. is a holding company based in New York, the principal operating subsidiaries of which are SCOR Reinsurance Company, General Security Assurance Corporation of New York and The Unity Fire and General Insurance Company. SCOR S.A., the majority shareholder of SCOR U.S., is among the world's largest reinsurers and is represented and does business through branches and subsidiaries worldwide.
 -0- 3/27/92
 /CONTACT: William K. Lowry, Jr. of SCOR U.S., 212-978-8222/
 (SUR) CO: SCOR U.S. Corporation; Crum and Forster, Inc.; Constitution
 Reinsurance Corporation ST: New York, New Jersey IN: INS SU: TNM


TQ -- NY058 -- 2508 03/27/92 16:35 EST
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Publication:PR Newswire
Date:Mar 27, 1992
Words:251
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