Best Withdraws Danish Re Lloyd's Syndicate Ratings

January 27, 2004

A.M. Best Co. announced that it has withdrawn the Best's Syndicate Rating of "A-" (Excellent) of Lloyd's Syndicate 1400, which is managed by Danish Re Syndicates Ltd., and assigned it an NR-4 (Company Request) rating.

Trident II, L.P., a $1.4 billion private equity fund managed by Marsh Inc.'s subsidiary MMC Capital, made a $200 million private equity investment in Danish Re in January 2002.