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ZRC NAMES GERALD KING S.V.P. AND DIRECTOR OF FACULTATIVE OPERATION

 NEW YORK, July 6 /PRNewswire/ -- Zurich Reinsurance Centre Holdings, Inc. (NYSE: ZRC) today announced that Gerald S. King, formerly a senior vice president and director of facultative underwriting at Skandia America, will join ZRC's reinsurance subsidiary Zurich Reinsurance Centre, Inc. on July 19, 1993 as senior vice president and director of facultative operations.
 "We see the addition of Jerry King to our staff as the first step in expanding what has been a small but profitable segment of our reinsurance operation," said ZRC's Chairman, President and CEO, Steven M. Gluckstern. "Jerry's leadership and management ability combined with his extensive experience in facultative underwriting make him an ideal candidate to spearhead this expansion. In the near future, we see the facultative business as an important underwriting unit of ZRC and, at this time, feel we are well positioned in the marketplace and adequately capitalized to play an increasing role."
 ZRC has expanded its per risk facultative casualty capacity from $2.5 million to $5.0 million effective July 1, 1993 and plans to locate its facultative headquarters in Manhattan. ZRC will maintain a facultative branch office in Stamford, Conn. and now plans to open 3 additional branch offices in the U.S. during 1993.
 Jerry King commented, "For me this is a tremendously exciting opportunity. I have watched ZRC's development with great interest and am very pleased to be joining this talented group of professionals. At this juncture, I think the opportunities in the facultative market are both interesting and abundant."
 Mr. King joined Skandia America in June 1990 as a part of Skandia's acquisition of facultative managers, where he was president and a director. Prior to joining facultative managers in 1978, Mr. King has held several facultative and primary insurance underwriting positions. Mr. King began his insurance career in 1970 after receiving his B.A. degree from St. Francis College.
 Located in New York, N.Y. and Stamford, Conn., Zurich Reinsurance Centre Holdings, Inc. is a newly-formed company whose operating subsidiary Zurich Reinsurance Centre, Inc. 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 Centre Reinsurance Companies, 9 percent owned by Fund American Enterprises, Inc. whose chairman is John J. Byrne and 34 percent publicly held. As of June 1, 1993, ZRC had $625 million in capital and surplus, and is the largest brokered market reinsurer in the United States.
 -0- 7/6/93
 /CONTACT: Elizabeth A. Richardson, vice president of ZRC,


212-285-1500, or Andrew Baer, or Tracey Stearns, both of Kekst and Company, 212-593-2655, for ZRC/
 (ZRC)


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

LD -- NY067 -- 8814 07/06/93 17:39 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
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