ANNUAL DIRECTORY OF REINSURANCE INTERMEDIARIES

L

Lambert Fenchurch Group P.L.C.

Friary Court, Crutched Friars, London EC3N 2NPl, England; 44-171-560-3000; fax: 44-171-560-3502

1996* 1995*

Premium volume $493,000,000 $323,000,000

% Treaty 64% 64%

% Facultative 36% 36%

Gross revenues** $37,500,000 $25,600,000

Total employees 2,571 1,792

Treaty 126 115

Facultative 81 56

*Fiscal years ending 3/31/97 and 3/31/96. 1996 figures are pro forma reinsurance numbers for Lambert Fenchurch Group P.L.C; 1995 reflects Lowndes Lambert only. ***Estimate.

Subsidiaries: Edward Lloyd, New York; Kininmonth Lambert Australia Pty., Sydney, Australia; Kininmonth Lambert (S) Pte., Singapore; LL (M.E.) E.C., Manama, Bahrain; Lambert Brothers, Hong Kong.

Acquisitions: Fenchurch P.L.C., February 1997.

Specialties: Marine protection & indemnity, motor XL, property catastrophe, health care, finite risk.

Conducts business: 160 countries worldwide.

Membership: Brokers & Reinsurance Markets Assn.

Officers: M.J. Caley, chairman-Lambert Fenchurch International Group Ltd.; G. Townsend, chairman-Lambert Fenchurch Specialties Ltd.; R. Ewen, managing director-Kininmonth Lambert marine division; J. Forder, managing director-construction division; M. Hooper, managing director-Kininmonth Lambert non-marine division; C. Mitchell, managing director-international division.

Contact: M.J. Caley, 44-171-560-3223.

Lincoln National Intermediaries Inc.

1 Reinsurance Place, 1700 Magnavox Way, P.O. Box 7808, Fort Wayne, Ind. 46801-7808; 219-455-3290; fax: 219-455-9040

1996 1995

Premium volume NA NA

% Facultative 100% 100%

Gross revenues $6,364,110 $5,851,793

Total employees 25.5 23.5

Facultative 25.5 23.5

Reinsurance brokering began: 1982.

Parent: Lincoln National Corp.

Specialties: Financial reinsurance, including life, health and property casualty; annuity reinsurance; mergers/acquisitions.

Conducts business: Worldwide.

Officers: Kenneth J. Clark, president; Thomas E. Skillman, Louis D. Fisher, Todd Spooner, Melvin C. McFall, vps.

Contact: Kenneth J. Clark.

Edward Lloyd Ltd.

100 Merrick Road, Suite 210, Rockville Center, N.Y. 11570; 516-763-9320; fax: 516-763-6722

1996* 1995*

Premium volume $7,500,000 $9,750,000

% Treaty NA 10%

% Facultative 100% 90%

Gross revenues $750,000 $975,000

Total employees 5 6

Treaty NA 1

Facultative 5 5

*Fiscal years ending 3/31/97 and 3/31/96.

Reinsurance brokering began: 1985.

Parent: Lambert Fenchurch Group P.L.C.

Specialties: Energy.

Conducts business: Worldwide.

Officers: John Mannix, president; Richard Lang, senior vp; Rambha McCanless, vp.

Contact: Noel Ulrich.

Figures are included in consolidated information for Lambert Fenchurch Group P.L.C.