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BUSINESS INSURANCE DIRECTORY OF WORLDWIDE REINSURERS: I

Posted On: Aug. 30, 1998 12:00 AM CST

IPCRe Ltd.

American International Building, 29 Richmond Road, Pembroke HM 08, Bermuda; 441-298-5100; fax: 441-292-8085

www.ipcreinsurance.com

1997 1996

Prem. written $117,050,000 $111,569,000

Prem. earned $112,486,000 $113,642,000

Capital/surplus $529,163,000 $496,848,000

Net income $101,743,000 $95,741,000

Losses $14,708,000 $32,732,000

Loss ratio 13.1% 28.8%

Expenses $20,759,000 $18,505,000

Expense ratio 18.5% 16.3%

Combined ratio 31.6% 45.1%

Treaty 100% 100%

Foreign 100% 100%

Non-life 100% 100%

Founded: 1993.

Parent: IPC Holdings Ltd.

Employees: 16.

Specialties: Property catastrophe excess-of-loss reinsurance, marine, aviation, property-per-risk excess and other short-tail property reinsurance on a worldwide basis.

Officers: John Dowling, president/CEO; James Bryce, senior vp/chief underwriting officer; John Weale, vp/CFO; Peter Cozens, Stephen Fallon, vps; Dennis Higginbottom, vp/secretary.

IRB-Brasil Re

Av. Marechai Camara, 171-Castelo, 20023-900 Rio de Janeiro, Brazil; 55/21/272-0200; fax: 55/21/240-8775

1997 1996

Prem. written $557,039,930 $527,471,010

Prem. earned $560,291,116 $536,321,610

Capital/surplus $473,300,824 $467,003,790

Net income $47,863,088 $72,373,950

Losses $438,073,006 $327,459,330

Loss ratio 78.2% 61.1%

Expenses $158,087,646 $263,012,310

Expense ratio 28.2% 49.0%

Combined ratio 106.4% 110.1%

Treaty 75% 75%

Facultative 25% 25%

Domestic 99.3% 99.4%

Foreign 0.7% 0.6%

Life 7.6% 7%

Non-life 92.4% 93%

Founded: 1939.

Employees: 560.

Locations: Four domestic, one foreign.

Officers: Demosthenes Madureira de Pinho Filho, president; Paulo Oscar Franca, executive vp; Francisco Aldenor A. Andrade, commercial director; Francisco Antonio Pinho de Barros, technical director; Marcio Netto Baeta, financial director; Hugo Rocha Braga, administrative director.

Contact: Joao Carlos Gahyva Rodrigues, president-United American Insurance Co., 212-486-0700.