Swiss Re, Tokio Marine Conclude $450 Million Cat Swap

August 17, 2001

PMA Re announced that it has become the newest member of the International Insurance Council (IIC), a Washington D.C.-based association active in promoting increased trade and investment relations around the world.

Commenting on joining IIC, Victor Baillargeon, vice president of Underwriting for PMA Re’s Finite & Financial Products Unit stated that while PMA Re has traditionally operated solely in the U.S. domestic market, in recent years I has begun to expand its geographic presence with an increasing focus on international opportunities as a means to diversify and grow our reinsurance operations.

Kevin Cronin, president of the IIC, expressed the council’s pleasure at having PMA Re join its organization. He added that PMA Re has been a mainstay of the U.S. reinsurance market for over 30 years. As PMA Re evaluates and pursues international opportunities in a reinsurance market that continues to evolve into a global market, the IIC stands ready to be a valuable resource to PMA Re.

The International Insurance Council represents the majority of U.S. insurers involved in business abroad. IIC is the only industry trade association focused exclusively on international issues and representing companies that include life and health and property/casualty insurers and reinsurers, pensions and financial management companies, industry trade associations and insurance service providers. IIC provides education and networking opportunities as well as trade advocacy and commercial research. The IIC is recognized for its experience and understanding of both market and regulatory issues worldwide.

Through PMA Capital Insurance Company, PMA Re is a major, lead property/casualty and specialty reinsurer. PMA Re emphasizes problem-solving and risk management solutions to meet its clients’ needs. PMA Re offers treaty, facultative and finite risk reinsurance for virtually all classes of risk and all lines of property/casualty business, and currently provides coverage to more than 175 domestic and international property and casualty insurance and reinsurance companies.

PMA Re is a subsidiary of PMA Capital Corporation, a publicly held insurance holding company based in Philadelphia whose operating subsidiaries provide specialty risk management products and services to customers primarily in the U.S.

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