Transatlantic Re Acquires 40 Percent Interest in Kuwait Re

January 9, 2001

Transatlantic Reinsurance Co., a wholly owned subsidiary of Transatlantic Holdings, Inc., announced that it has invested $30 million in Kuwait Reinsurance Co. in exchange for a 40 percent interest.

Kuwait Re, founded in 1972, writes property/casualty and life reinsurance mainly in the Middle East and North Africa. Both companies expect to benefit from the partnership. Transatlantic Re will increase its presence in an expanding international market, and Kuwait Re will benefit “from the technical and marketing support that Transatlantic’s worldwide resources and broad experience can provide.”|”transatlantic, re, acquires, 40, percent, interest, in, kuwait, re

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